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RE: In Bitcoin terms, Steem is revisiting the lows of March of this year and if it was to revert back to the Bitcoin valuation witnessed in June, then Steem could be +$10.36..!!
Short answer...no. A good analogy is ETH. On Ethereum numerous tokens have been created that fueled the price of ETH. The same will happen with Steem (hopefully).
I agree...I see the same thing happening to STEEM that happened to ETH.
The ICO market got ETH a ton of press and STEEM could get the same. Plus that is a ton of people being drawn onto this blockchain.
It is a wonderful time to be holding steem.