I believe that much of the market has bottomed. Bitcoin, Litecoin, Steem, and several others. I think several others still have a long way down to go. It's always easier to see things in retrospect, but it seems 5.7k was the bottom. There is still no guaranty on that, but the longer we support above it, it seems more and more likely. I do still expect us to correct down again, but there has been a lot of buying volume every time we get down there and we don't stay long. Bitcoin hash rate remains bullish, which will continue to drive up the bottom line.
We've got both steem and sbd balancing around a 1:1 ratio right around $1. To me this is a very good base level for STEEM and probably a fair value, probably a realistic value, in the short term. As our user base grows, with hype, we'll bubble up again, probably higher than we did last time, but will need a lot more users and likely a more user friendly platform to attract them in order to sustain higher prices, and not continue to return back to these base levels.