I personally think that steem is losing its buzz. I don't see it reaching it's highs again any time soon. This is the case with so many other cryptos, the hype phase and then the slow and steady drop that takes forever to bounce back if it does at all. I don't think it's accumulation. The only way I see steem going back to its highs is if it gets featured by the media. The steem team needs a marketing genius to keep the buzz going, a strong social media preference (I know steem is social media but I mean in the typical sense) and on the news. And I really do believe it deserves the attention, it's now everywhere where you make $1000's of dollars for making a blog post, this should go viral.
I don't see why crypto coins don't focus on marketing, just like everywhere else it's the key.
Personally, I'm selling my steem and will buy it lower if they can get the word out better and create some buzz (and I don't mean cupcake giveaways)