In part if the people who power down then move the steem onto an exchange to either convert to fiat or another crypto. This means there is Steem on the market that is floating and awaiting a purchaser.
To make a commodity more attractive to buy, the price will have to be at a level that people want to buy at. The more Steem availab!e, the lower the price.
Its not all down to powering down as Steem is quite closely following the path of crypto market leader Bitcoin, but the desperate selling of Steem as people panic over losing money on their investment certainly isn't helping.
It's like a self perpetuating downward spiral that will only stop when newinvestors, in for the longbterm are found and when people stop using Steem like fast cash trading chips and see it as a serious investment vehicle.
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