I think it comes down to a gut feeling of what the price should be. Complete speculation, but I think Steem could reach $10 soon too. There isn't really anything backing this up other than seeing how prices can be super-volatile with cryptocurrencies. Steem is also something we all want to succeed and many people see Steemit as something that will hopefully become several times larger than it is today.
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If steem reaches $10 it will be directly connected to a surge in value of btc. Otherwise no.