undervalued, but why?

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Hi Steemians
I don't post often. I have been enjoying seeing Bitcoin prices go up, and stay up.
What I haven't enjoyed is seeing is Steem eating other Altcoins dust.
Steem sits around 37th or 38th these days and $1.43

I feel Steem should be around $2.65 at this point.
I was wonder why Steem is so undervalued?undervalued_1_large.jpg

What value do you think Steem should be at today?
I hope to start a discussion.

undervalued, but why? | Ecency