I've noticed how more and more are becoming "believers" in bitcoin and their belief in alt coins has been fading lately, correlated strongly with price. I think this sentiment will continue to drive prices lower for alts unfortunately. I think this could present a nice opportunity for people to pick up some steem at really low prices. I think a lot of these alts got way over hyped in 2017 without good reason and the whole space is paying the price. I think STEEM will be one of t he coins we will see rebound hard when we do rebound.
We could see a bounce in the short term. 300 million tethers were printed and shorts are almost at an ATH, so they could get squeezed, but I dont think it'll be substantial before we end up breaking down again. Lets see. I'll be dollar cost averaging from now on down.