STEEM price continues to drop against the Bitcoin. Many probably have lost faith in this coins, although it has a real usecase, and it does have potential.
Technically BTC dominance should be starting to move down, and I'd expect it to be near 60% of the total coin market cap. And as I mentioned in some of my previous ideas, if BTC.D would in fact start moving down, this should stimulate growth of Alts. Since STEEM has a real use case and it is already being utilized and apps are being built on top of steem blockchain, this could be the choice of many investors.