Oh yeah, the situation is very proportionate, but it seems to me from the latest events, to predict the price of the STEEM will have to be relative to Bitcoin's price. According to my observations, no matter that Bitcoin is obsolete, it still sets the tone for the market. As a rule, all currencies will show the same dynamics as Bitcoin and the STEEM are not an exception. Thank you @cryptographic
No doubt in my mind either that Bitcoin still sets the overall tone. It's the big name that everyone knows. I dare say that in many places it has become a household name. It's certainly the name that always appears in the press, and if it's going up, people get excited and start looking at other crypto too.
Can't wait for the day when that changes. 😎