Bounty hunters are alwasy blame for selling their tokens so quickly without waiting for the project develpment as outline in the roadmap. I don't think bounty hunters are to blame because a lot of bounty hunters hold their coins for years.
I guess they are right. Most of the bounty hunters immediately sell their tokens once they have it in their wallet. Why? Simply because they badly need money. Although there are still hunters who prefer to keep their tokens, still they are in few numbers. Nowadays, developer prefers not to distribute immediately their token to prevent dumping their coins.
Bounty hunters are not the major problem when the price drops, that is my insight before but if you see, the least percentage of the allocation was allocated to the bounty program usually 5% of the budget meaning how bounty hunters move the price downward so drastically?