Steem going down, down, and down

With Steemfest wrapping up, and and year 3 of it down, you would have expected a little excitement around steem, right? Or was it just my expectations of it. Since Steemfest has been going on the price of steem has hit 6 month lows, now this could be for a couple things. Market is still in a bear market, or the price of Steemfest was so great that people were selling copious amounts of Steem to party, and actually get nothing done. I feel a combination of both, as it seems to me most of these conferences turn into a party, and very little gets accomplished. Again this is just my opinion of how I see things:-)