I think it's actually HF21 that drove it this low in the first place. The uncertainty of drastically changing our economy likely scared a lot of people out for the short term.

I'd say HF 21/22 has largely been successful so far, and if it continues to be so, along with all the other developments, this very well could be the bottom.

Also our all time low was around 8 cents... and crypto seems to be on these doubling patterns. 16 cents could very well be the absolute bottom for Steem.