1) a project collected funds,
2) Funds allocation (among advisors, bla bla bla and bounty hunters)
3) Considering there are thousands of BH, the price of a token dropped dramatically
4) Investors bought token on ICO see this crap and less people invest in ICOs.
True or False?
From your question alone is wrong, and of course the reasons you give are also wrong. Your question is: Bounty hunters killed ICO?
What's the deal with the ICO dying with prize hunters? Of course ICOs die because ICO developers often commit fraud, they don't manage ICO properly, so investors are no longer interested in ICOs.