The studies done by JP Morgan suggest that every dollar bought or sold has a market effect of 32x (iirc) value. So if a bounty made up 5% of the total supply, and half of bounty hunters sold on reception, that would (other variables ignored) drive the price down over 60% If projects are not careful, bounties can crash and it that does happen.
Even bounty hunters will HODL coins and tokens if the project has good future and speculative perspectives! At least for me personally, that isn't the case.
I look for signature campaigns (don't spend much time on airdrops or Twitter campaigns) with a high payout and relatively low exposure for a project that seems to be poised to raise a decent amount. I never hodl the coins I bounty hunt. The exception would be bounty hunting in place of financially contributing to an ICO I otherwise would, but that's very rare, especially with the move towards private crowdfunding this year. Ofc, I'm just one individual, but I imagine many others (especially those who do it full time) or counting dollars, not coins, and locking in dollar paychecks asap.
