You are over-estimating the impact from the bounty campaign. The bounty pool is around 75,000 coins per month. And the daily volumes are around 150,000 to 250,000 coins (which comes to 6 million coins per month). That means that even of all the bounty hunters are dumping their coins, it will represent just 1.2% of the total traded volume.
Bounty pools can not be used to manipulate price and should not be used like this. However, I believe that other projects sufferred same tough period as well due to the rises of bitcoin. People all try to sell their altcoins, then buy bitcoin and hold it to enjoy bitcoin increases. Therefore, most of altcoins have fallen down around 30 percent to 50 percent during last two or three weeks. I don't think there are serious things with VEIL and its promotions. The coin has suffered from bitcoin latest movements.