I posted about this a few times but people won't open their eyes to reality. They are swimming in a dream and can't think objectively. The same happened in every bubble market all over history and the same will happen over and over again. Smart people are selling STEEM because STEEM has no use apart from powering up and to be sold for bitcoin to be then sold for USD.
Incentives to keep STEEM are non-existent, some people are putting everything into STEEM POWER to fight inflation, but as inflation grows the value of STEEM goes down. The final value of STEEM will be next to 0 in the future.