Why price down after listing in exchanges

[Wend]

We always seen like that after we receive our bounty rewards in any bounty we participate that first thing we could experience are the price of coins we have are dropping so much after we receive on it. So we are force to holding it until it back to ICO price or IEO, But it take long days that would increase the prices or else become a shitcoins and no value.

[styca]

The main reason has to be that if an ICO doesn't hit hard cap, then by definition there is more supply than demand. That's all you need for downwards price pressure. Dumping by bounty participants, or by people who bought early with a percentage bonus are overrated as contributing factors. No need to look beyond the obvious here.