Like all of the other cryptos, the price of SBD and Steem is affected by speculation, and the emotions that are usually associated. In a raging bull and bear (like the past months) market, rational thinking goes out the window. When people fear their portfolio might drop further, they will sell and thereby depressing the price even more.
But there will come the time when only the (very) strong holders remain - the legendary "bottom". Unfortunately we won't know when this is for it will only be shown after the fact. With this platform of Steemit, there's value; which lends support to SBD and Steem. This is so unlike most of the other cryptos where things "are in the works" (or so the ICO proponents claim). Things are very gloomy right now but I believe there's a future for Steemit and the associated tokens.
Well said. I can only agree. :)