It's a simple matter of supply and demand. When the market is flooded with liquidity, the price falls, and vice versa. Steem has a built in 9.5% inflation rate that decreases by .5% every year until there are 600,000,000 Steem Tokens in circulation. The large power downs affect the price of Steem in short term, but as more and more users understand the value of holding Steem in Steem Power due to it's dual benefits of increased influence and rising Steem price, they will offset the power downs. Thanks for the comment!
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