Well, it wasn't just Steem, it was nearly everything. If Bitcoin turns around and starts hitting $20,000 again, then I'm sure altcoins like Steem will pump as well. Crashes suck when you're holding the bag, but are great if you are buying low. LTC was like $300 and is now around $75. Dash was over $1000 and is now under $250. There are going to be complete failures of some coins/projects, but there may be some gems that still go to the moon. I think we all hope Steem will be one that makes it, but it is always good to stay diversified if things don't go as planned.
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