That was quick. I generally try and only look at Steem value versus Bitcoin (Satoshis). If we live in a digital and tokenized economy, then why would we compare against currency?
We all in the space, kind've consider BTC as comparable to precious metals. This in terms of store of value and over the very long term. So why not compare Steem against BTC directly?
If we do, then we have a W formation and we didn't drop that much at all. Image in the comments below.