Well, anything can happen in the short run and you know better than me on it. But in the long run, market will recognize the value and should catch up with the better one of these. Although HIVE & STEEM are based on the same code, their prices don't move in tandem to each other. So I don't see any ripple effect of STEEM dump on HIVE prices. And even if it happens, it will be for short term. For investors to lose trust, price dump should be followed by a huge bear run, imo.

You see, STEEM is still holding on its rates in spite of the Hive fork out. STEEM investors will like to hold because they have a lot of faith in JS's marketing (pumping) talent and they will probably get some chances. However Justin Sun, at the moment, is busy in launching & marketing JST / USDJ, JST is still struggling to reach one cent even when its airdrop is just 2 days away. But STEEM opportunist will like to wait for their turn to cash out.

On the contrary, HIVE is a value proposition and I don't know where it will go in the mid-term. If the community is able to get done the necessary tasks, developments and improvements, it can do several folds better than STEEM.