The supply and demand are as always ruling the market. There are not many people looking to buy steem ATM, and I think there will never be many unlesss some big capital tries to come in.
I doubt that lack of faith is the reason why they are selling. Everyone that gets a piece of it wants to try and see if it works for real. Many of the people don't have clues about cryptocurrencies and like me are trying to get their hang of it.
I believe that there will always be lots of people selling it but it's just as it is and we can't change what they do with our plea. Getting half of reward in SP also makes people spend another half on what they think is best. Don't forget that lots of countries in the world are struggling to live and when they see dollars are made in such an "easy" manner they want to get it out ASAP to survive. There are also lots of speculators who live from daytrade.