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I believe you're correct on that. Steem was mostly holding it's own here the last several days, when BTC and most alt-coins took a hit. Most of the alt-coins have bounced by fine though, and as I type this, BTC is at $15,390.00. A lot better than the $10,400.00 it was at a short time ago. lol I believe Steem has no place to go, except up.