What effect will the recent fall in Steem price have on SteemIt?

This is not an easy question to answer and I can only put forward a couple of ideas, namely:

• The price of Steem may stay low, having the effect of lowering payouts. As we have seen in the past, low payouts will mean that people will leave the platform.

• The price of Steem will rise back to its normal(ish) level. This will mean that payout levels will return to normal. Indeed, there may be renewed confidence in the platform as Steem will be seen as a stable investment.

This doesn't address the effect that the state of cryptocurrencies in general might have on SteemIt. We may not see an increase in people leaving the platform, but there may be no one to replace them when they do.

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