I personally think that the steem price is completely to do with all alt coins being down.

People shouldn't get so disheartened as it's basically an all or nothing with steem at this point. If the alt coin market booms with another BTC bull run, steem will do well because it has a tone of fundimental development. If the alt coin markets fail and bitcoin becomes the one dominant future crypto, steem will die with the rest of them. When you look at it this way it's sort of liberating as there is more chance that alts won't fail completely.

BTC maximalists would say different 🤣

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