It is not unthinkable that Bitcoin and the vast majority of the alts are going to shrink in value for a while after the ATH roughly halfway june 2017. Some coins however might hold their ground surprisingly well and STEEM is probably one of them.
Here's my personal train of thoughts: humans are social beings and love being active on social media, with Facebook as the prime example. The aim of those who participate in social media is usually to maintain and expand their social network, show the things they do in their lives, and build a positive reputation.
Now, Steemit as a social media platform has probably hit bullseye regarding attracting masses of interested folks. The two most important reasons are:
Steemit is thriving entirely in the world of cryptocurrencies. If things go well and the general public and corporations all over the world are entering crypto, Steemit might become a hypergiant and perhaps even the successor of Facebook.
participants are paid for their activity on Steemit. Well, what can I say? I think this is the most important fact that'll power Steemit and STEEM itself in the (nearby) future.
I know I'm going to transfer significant parts of my crypto into STEEM very quickly. Considering the probably very bright future and the current value of STEEM, it is an offer you can't refuse ;)
Seeya ... !