95% decrease in steem

steemit was created in the year 2016 and ever since then, they have been the best. As a micropayment currency for tipping authors on the Steemit platform. The Steemit was formed from reddit but in this case you are been rewarded with steem for the work been done
But the big question is this, steem have drop from $106.5 which is $7 in January to $ 0..35, 95% decrease in value due to outage ( lost in transportation ) when asked co-founder and CEO Ned Scott, the rest of the team will started that the Steem blockchain can become an affordable network for apps but pruning down its costs is the first step in ensuring the sustainability of the platform.
"There’s nothing that I want more now than to survive, to keep steemit.com operating, and keep the mission alive, to make great communities," Scott affirmed.
So will this affect the block chain
Will it affect steemit
Pls I need an answer