Steem price will gain it's new all time high this coming 2020 following the Bitcoin price as Bitcoin creation decreases 50%. Likewise, steem creation also decrease following it's roadmap and the steem user in 2020 will multiply into 10 times or more.
It is not impossible for each steem is equal to $100 due to fiat inflation and steem demand. This is only my opinion and not a financial advice. I am no financial guru.
BTC-halving caused price surges in the past but if all are expecting the same, can be different this time.
Steem inflation is out of control sometimes: https://steemit.com/steem/@deathcross/and-the-real-steem-inflation-rate-in-the-last-365-days-was
In a hype, they buy it all. In a crash, they sell it all...
If they'll sell it isn't good thing but sometimes selling makes it more decentralized or centralized... Since whale buy it mostly during bear market.