The crypto space has experienced so many bullies, and it has been mostly attributed to bounty hunters. Whenever there is a dump; people raise fingers, and attack hunters as the cause of the dumps.
But when you consider most recently hybrix token; the investors got their dividends, and they boldly dumped the token from 3.5$ to 0.5$.
This reinforce claims that no matter how much bounty hunters earn; it is not enough to close down the trade market of crypto coins.
I think it depends from campaign to campaign and project to project sometimes dump is brought about by the selling of bounty rewards especially when the bounty rewards are big enough because many hunters rush to sell irrespective of market condition, project phase and price.
In your campaign definitely hunters are not involved as i have studied the campaign and reward was very small and also that was not distributed to hunters so clearly the market dump was brought about by investors and traders.