I don't think Google is punishing you. IMHO you need to do a better job building up more quality signals which does not happen overnight.
It sounds like you are relatively new to Google SEO, so here is a quick list of ideas that will hopefully help you to survive in the long term:
-New websites can have their activity fluctuate alot, pay more attention to growing the site and less attention to worrying about every traffic change.
-Unique content does not mean it is useful content. A cat walking across a keyboard can create unique content but that doesn't mean the cat deserves to rank #1. Create useful content that users want and can't find on 100 other competing sites. Make sure your site provides unique value.
-Most people can not accurately track their Google rankings. They think they can but they aren't taking into account the massive amount of personalization that Google applies to search rankings. Focus more on long term traffic trends.
-600 links sounds impressive but it isn't. Quantity is not quality. A handful of great links can outpower 1,000 weak links. When working on backlinks I would suggest you seek links that will directly drive relevant traffic to your site.
-Don't waste time when launching a new website. You need to build up the quality signals that your competition has had years to develop. If you somehow catch up and outrank your competition, you still need to keep working because your competition will now increase their efforts and try to take back the traffic from you. This isn't Google punishment, this is marketplace competition.
-Don't wait for Google to tell you your website is broken. Regularly monitor your site and fix it before Google realizes your website is error filled and a bad place to send users.
Work harder on establishing long term quality signals. Google SEO is not easy and Google keeps hiring more people with a PhD to ensure the challenge level continues to increase.