A lot of the crypto community act based on hype, frequently chasing the next shiny thing.

And in the case of STEEM, there was a drama sometime ago, about some issues not being fair in Steemit and such. I think part of it revolved around the notion that a few whales had almost every STEEM and very little chance for anyone else (don't know the exact details).

Longterm? I believe in STEEM in the long term.