I'm pretty sure the main reason behind the low price If steem (the other major alt coins have mostly recovered) is due to Poloniex's disabled wallets. It spooked me and I sold out of steem into BTC when it first happened and moved to Bittrex where I rebought into Steem.
RE: Poloniex Receives 41,917 in Steem Deposits But No Withdrawals for a Week!