It's a mixture of Segwit, inflationary supply, the market's mixed views on Steem and lack of demand. I see this as a great opportunity to take advantage of the price, upgrade Steem power/holdings and hold it for the long term.

As for Steem-fest, I don't think the marketing is active enough. I think only Steemians are really aware of the fest and the message doesn't get out there to stimulate demand.

Thanks for the post!