I think you nail it, the movement of crypto in general seem to more base on speculation and sentiment, not necessarily what is happening with the company associated with it. Another aspect as to do with its support base, Steemit seems to have its faithful that would step in and buy if the prices go below a certain level, the are quite a few silent whales with reputation of 25 that are quite active on the market, you only realize they are around when they give you an upvote and then you look at their wallets, and realize that person just bought a shit load of Steem power. Quite a few folks are optimistic and awaiting to see how things unfold but think we enter a bear market a week after HF19 followed by some negative sentiment coming from some youtubers who weren't happy with the flags they received and encouraged selling. It's been up and down since, haven't really jump out of the words as yet. Probably moving forward, they should explore additional markets to list their coins like Bithumb and have a clear roadmap, this should help spark some fire. I await to see the much needed face-lift and on the back-end the up and down nodes need to sorted out, probably get a dedicated team working on that. Once they get things off the ground, this probably would help with positive sentiment and a lift in price. I used to believe it moved with Bitcoin but clearly that hypothesis is off, but I tell you one thing, those silent Whales are active on the market.