What is the main reason for the price drop in Steem and what would be your answer to resolve this problem?
Img source : nano.do/sooner-chorus-pomp
In my opinion, there are several reasons why the decline in STEEM happened very drastically.
Bitcoin Crash
The most important factor for the decline of Altcoins (including STEEM) is their pioneer (BTC) has decreased significantly. Well, the decline in BTC was caused by a stupid hardfork that was done on November 15.
Instead of making the network better and attracting investors, the BCH hard drive caused a big dispute, and of course eliminated the interest of investors.
Xmas - End Year 2018 - New Year 2018
Almost everyone in this world will need a large amount of "cash" for this significant event. Well, of course, they will disburse their investment, including crypto currencies.
Maybe we will see an increase after the first quarter of 2018.
Or, another scenario that appears in my mind is: "Repeated Itself History", and maybe a significant price increase occurred in December 2018.
Investors Switch to Safe Haven
For now, Safe Haven in the crypto scope is Ripple (XRP), which has different ideas, to improve traditional financial systems.
Well, of course from the bloodbath that happened, it was proven that XRP was still able to maintain its value, and in fact it could replace the position of Ethereum in the second rank.
==============
Don't worry, we dont need to scare about it. Just HODL your STEEM !, or if STEEM price reach / nearly reach their ICO Price ($ 0.2), you can buy a new whale with cheap price.