Well the truth be told 80% of bounty hunters has a tendency to dump there tokens immediately when the project is listed on and exchange and a good number of that percentage are newbie in the cryptocurrency world. Also there are adverse effects of dumping because it reduces the price of the token and this can be annoying to investors and other rational bounty hunters
Actually there are some reasons why most bounty hunter dumped their tokens after listing because most of the ICO project are fake or scam. But of course not all, there are tokens that having great potential to growth and some hunters are keeping hold the tokens.
Of course, bounty hunters have recently been forced to communicate very often and for a long time during an ICO with bounty managers and the ICO team. From all this communication and simply when familiarizing with the information of interest in the group of telegrams and the ANN stream, it can be concluded that the ICO project and its token are serious and promising. Therefore, it is not surprising that for some ICO bounty hunters immediately drop their received tokens. I personally know that if I see the prospects of a project, I will not immediately sell this token. I still keep some tokens for years.
Therefore, I do not think that bounty hunters should be so strongly blamed for crushing the price of a new token.