Most likely because of bounty hunters but we all know it's not only because of them. Some investors who also invested too early or those who get a high bonus when they purchase also dumped their coins too early for easy money.
I do not agree. Bounty hunters are not able to influence the price so much. After all, the entire pool of bounty, as a rule, is 1-2% (very rarely, when this figure happens more). Basically, the price is influenced by early investors who received a large discount (in my opinion).