this could be currently correct, but when the bitcoin rally happens, unless steem keeps up with the pace (possible, but unlikely) it won't be the case anymore.

To be specific, for this to be true, if we are sitting at $7500 for 1 BTC today, and Steem is sitting at $2.45, then that means that if Bitcoin jumps to 22k or so by the end of the year, steem needs to close around $8 dollars. Is it possible? yes of course, but it could also be Bitcoin closing the year at 40k and steem at $5.

The chart doesn't lie my friend, I'm not complaining, I'm simply outlining how this hole thing has played out so far.