Shortest answer to your question is NO.
It hardly matters how the overall crypto market is performing, if you have confidence in steem platform.
Those who are attracted to steem for short term decide on the basis of the prices of the bitcoin and other currencies but if you are here for the passion of writing then it hardly matters.
I am one of those contributors to steem and musing who hardly cares about the short term gains or the fluctuations in crypto currency prices. Those who speculate are bound to lose money somewhere but the investors always gain in the longterm.
Follow your passion if writing and you will definately reap rewards in long term
I don't, but a lot of people do. If we look at the number of daily publications being made and the percentage of people voting, we can clearly see this decline. I think that many people see the moment of decline not as a moment of investment but of loss, hence they leave to publish after the market rises again and there are more profits. Many people who make a living in steem are people who live off the business of the crypts and do not see it profitable to publish when the rewards are minimal. However, it must be said that there are also those people, thank God, who continue to bet on steemit despite the market value. These people are the ones who give movement to the platform in those times of crisis, as now!
There is a minor impact on me, but it's likely the opposite of the impact a downtrend has on most people.
I see opportunity.
This is a great time to stack Steem, why not take advantage of this opportunity, and bust our asses?
Adopting this mindset is good for Steem in my opinion, and I hope to see more people adopt it.
We all know the flood gates are going to open when Steem climbs back over a dollar. I will be happy knowing I did all that I could do to obtain as much as possible during the downtrend.
I hope this answer helps.