Hi @dantheman,

Thanks for steeping by! I appreciate it big time! Yes, you are certainly right. It is only a brief analysis of price action and neglects many factors - such as basically all fundamental aspects.

The market cap. however fell also in the last weeks in which the price felt that pressure. It did not pull back this significantly as STEEM/BTC though. The recent recovery in the market cap. supports the idea that the price could have seen its bottom end of last month.

Many thanks for your reply!