Well it all depends on the market cap of steem, if more people invest in it, it wont be so easy to undervalue, but if people start to trade their steem for other coins and shrink the cap the roller coaster of payout will start to slide down. Eventually the value of steem is determined by the value of the quality of member posts. I believe we have to wait to see what kind of surprises are to be found around the corner, and not complain off course.
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That completely true creativityflow and thank you for the addition analysis. I saw there is one picture overlaying the number of comments in steemit and steem price and it happens to be very correlated. So even this hf19 may cause short term movement, long term would remain the same up!