The "downfall" of Steem this time isn't really an organic one. There was a hack of a company who takes care of Bitcoin wallets in China. That is why Bitcoin is down 50% and still going. And the reason Steem goes down is, once Bitcoin goes down, all other crypto goes down. That is why the sudden drop of value. Good thing is, Steem will never drop to 0, bad thing is, I have no idea when it will go up again, but it surely will. It will go up but not by much.