For a few days know Steem seems to be hanging around the on dollar mark. The current price chart looks like this:
They way Steem has grown from pennies to $ in may. And then to slowly decline to about $1 seems like classic bear trap to me.
From my observations we should be entering the final phase of the dip. I do not believe that steemit will fall far under the $1 dollar mark. It's probably a good thing that $1 is the bottom right now. I would have loved if I had the change to buy Steem when it was at 7 pennies. But I don't think we will ever see that again