I don't see the price even reaching $1 again. But I could be wrong. At this point though, with Steem so low in the crypto market cap ranks, and with the long history of chart losses, it's going to be hard to turn this around.
And I don't see a good enough effort to turn things around. What will make Steem Power valued by the market and in enough demand that the economics make sense?
Regarding the price I see it going up in 4-5 years. As for the market cap rankings...that is a phony metric. You can easily have a high marketcap with a big supply and some market manipulation. How many coins that are above steem have actual activity on chain? Probably 3, 4 sometimes 5 chains have more actiity than steem. It's all speculation and the marketcap is just BS. The reason that we are down is because the crypto crowd has written off steem as a failed project.
The way that steem is going to pickup is with projects that build second layers like steemmonsters that need resource credits to function. With just 2500 daily active users (4k monthly) they needed to acumulate 400k in SP. That is steem that is no longer for sale on the market. Their plan is to grow their user base by 10x. Steem Engine has 1,000,000 steem that is no longer on the external echanges. So we need more of that.
It's going to be a grinding and sometimes frustrating effort. We may see the price go to zero as you say but as a mentioned I also see it going the other way around but no in the short term.
Who has 4/5 years for a platform like this when there is so much competition and it's in cypto? Opportunity cost.