You raise some interesting questions here.
I agree why people would sell steem at $2?
It could be that so many people who have bought into crypto just don't know the first thing about investing.
Before anyone sells their crypto they should ask themselves:
why is someone willing to buy my crypto at this moment in time and what do you think they aim to gain from buying my crypto?
Another reason for the bear market in crypto since the new year can be linked to some degree to the dumping of over $400 million worth of bitcoins on to the market by the bankruptcy trustee for Mt.Gox between December 2017 and February 2018.
The trustee has a further 165,000 bitcoins worth over a billion and BCH worth over $150 million to dispose of.
Not surprisingly, many crypto investors are accusing the trustee of just dumping the coins on to the market instead of looking at other ways raise money from them such as an auction.
I am concerned, like many people who had bitcoins stolen from their Mt.Gox accounts, that we will not be fully reimbursed for our losses.
The bankruptcy proceedings have dragged on over 4 years with no sign of the much promised compensation.
You can read the trustee's recent report to the court in Tokyo here:
https://www.mtgox.com/img/pdf/20180307_report.pdf
Press reports on this are below:
https://www.trustnodes.com/2018/03/07/mt-gox-trustee-sold-half-billion-dollars-worth-bitcoin-bitcoin-cash
https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/
http://uk.businessinsider.com/bitcoin-price-traders-angry-over-mt-gox-trustees-bitcoin-sales-2018-3
If trustee keep selling then we will have cheap coins for longer period but long term it is just small bump...