I don't have all the facts (I don't think anyone does - just bits and pieces and mud-slinging), but a lot of the Korean communities were against the idea of Hive, and preferred Steem to change instead under JS: dropping downvotes etc. instead.

Long story short: They got airdropped (a LOT of) Hive as well in the move, and are (with or without JS's encouragement) probably dumping now to buy STEEM. Just like the HIVE price was artificially high when everyone was buying up HIVE with their newly freed up STEEM.

So there's a lot of dumping and switching going on in both directions.

i.e. I'm no economist, but my 2cents = Going to be a very volatile +/-10 more weeks until everyone's power-downs (on both sides) are done, and then we should have a better idea of where both prices are going to settle.

In the meantime... use all your free STEEM to buy https://dcity.io cards... it's a fun little SimCity type game from @gerber. Think of your STEEM now as "free money" (i.e. was replaced with HIVE), and you now have free game coins. That's MY advice ;-)

Disclaimer: I (pre-corona) "flip burgers" for a living. If you take a spandex-clad burger-flipper's financial advice and you lose, then it's your own fault. If you do and you win though... feel free to buy me a !BEER ;-)