Not sure that STEEM has been oscillating between $1 and $4. It got to $4 once, and is currently on a sinking path down to $1 or lower.

Long term value of STEEM depends on the platform becoming very welcoming for minnows, so we can grow to 1 million users in the next year

If that happens, the price could be much higher.

If the platform is not more welcoming to minnows, then it is hard to see why STEEM price would rise in the future