Because it's highly likely that most unique visitors visit because of the monetary gain aspect of steemit, there's probably a rise in visitors when bitcoin is rising in value and most drop off when it starts tanking. If there is such a correlation as I've just described, then the good thing to come out of the situation is that each time this wave does its thing, more visitors stay. Which will be a more subtle continual rise overall in the long run.

Of course I could be, and probably am wrong on just about everything I said, as I've not been involved that long yet.