How low can STEEM go?

STEEM price

So currently the price of STEEM is around $0.43 according to https://coinmarketcap.com/currencies/steem/ which seems to be only dropping by the day since the high of approx $4 about 2 months ago.

Is this bad news for Steemit?

Not necessarily, because the lower the price goes the easier it will be for the minnows to get a real investment on the platform by "Powering up" for literally pennies on the dollar..

But how long can the site sustain at this level?

Currently my upvote at 100% with 100.00% voting power is not even worth $0.01!

That is with over 1000 STEEM Power..

According to https://steemd.com/distribution around 90% of the users on Steemit have less than that :/

So imagine how many people on the site that do have less than that who's upvotes really are almost worthless.. If the price of STEEM goes down too much more I'm afraid the site will not have the lure that it had back when we had $40,000 payouts and make up tutorials.

I'm optimistic about the future

Now yes I do see this effecting the site temporarily, but we ARE still in beta mode.. So hopefully when the full Steemit site is officially launched I'm sure it will have great features that start bringing back investors, and also get the main stream interested in what's REALLY possible here!