Absolutely. It happens a lot. But one thing to consider here is that the STEEM price was rising against BTC as BTC was going strong. Most of the other coins were not.
The trick is keeping STEEM strong when BTC prices are falling. That's when you know you have some real strength. I hope we can see something like that soon.
The only way you will see that if there are 2 things:
#1 Is GROWTH
#2 Is Steem being swapped easily with other currencies. I'm still a minnow so I haven't even thought of joining an exchange yet; but I have heard a lot of controversy lately. I believe in the platform so I can just accumulate and grow.
Yeah - that's the most important factor. When you can exchange STEEM directly for fiat, like you can with BTC, that's when you'll see the break/divergence in price from BTC. At that point, my analysis will primarily be about STEEM-U.S. Dollar.
Then it's about exposure and growth.. someone will come along and offer whats needed. Until then.. it's not volume enough. It will get there though. It might be the result of advertisers getting in; which will change the landscape. I envision this as an early UBER .. but once the guv got involved.. UBER started to suck ;)