Steemit refers to the blogging app on STEEM, the first front end, it can also refer to Steemit, Inc., the company responsible for creating and maintaining Steemit the app and STEEM the blockchain. Steemit is often used interchangeably or confused with STEEM, though STEEM itself is a blockchain and a cryptocurrency.
So, I'm not sure to which you are referring to, but I will try to answer the question for Steemit Inc., Steemit the dApp, and STEEM (the cryptocurrency).
STEEMIT, INC.
As most of us know, following November's hard fork, it was announced that Steemit would layoff 75% of their employees, that SMTs were on hold, and that basically the company was in survival mode, with the majority of its resources and focus put into cost saving measures.
Those who might follow the steemitblog have seen regular updates regarding the progress of these efforts, which have included dropping the requirement of running Witness servers, full nodes, and other database related activities. The last information I saw on this said that Steemit Inc was about 75% through the cost saving activities, when they could then turn their attention back to things like SMTs.
When that will be is anyone's guess, but I would hope, given the progress they've had already, that they would be able to accomplish this by the end of June, and certainly by the end of September.
With the recent fallout over the splitting of the social part of Steemit and the wallet, however, Steemit inc has taken another PR hit. I find that unfortunate, since I believe they provided ample warning upfront, and that splitting the two ultimately was the best thing for both the wallet and the social site.
So, we'll see. If they can get SMTs back on track, and those can actually deliver what they're supposed to deliver, maybe we'll see Steemit returning to its former self. Whether that means they will ever regain the trust of the community, I don't know.
STEEMIT, the dAPP
While functional in many ways, Steemit the site has never really had a "glory days," so it can only improve as far as I'm concerned, barring something that causes it to go offline or be down for long periods of time. It would be nice to see the flagship app on STEEM get a major overhaul, by perhaps introducing Communities. But when that will ever happen is up the air, and speculation on it at this point would probably be premature and unproductive.
STEEM, the CRYPTOCURRENCY
STEEM has hit $8 or so before falling back hard, and SBD has risen to higher heights. While that is true, I'm not sure why that's the measuring stick, because the time spent up there was short lived.
Now, STEEM bouncing between $1 and $2 USD lasted a little longer, so maybe that's really the glory days? What we've been experiencing for the past several months since STEEM dipped below $1 USD has been more or less STEEM's value for the majority of its existence. So, I guess glory days is relative, since its all time highs can't really count since it was over and done in a flash.
As to when there might be another major spike, since it's launch in 2016, April to July have been the months where the spike(s) occurred, with one or two happening at other times. So, if history holds true in 2019, there will be some kind of spike within the next 3.5 months.
Is it likely to hit $8 or beyond this time? Anything is possible, but the more likely scenario, again based on history, is a smaller spike, leading to a larger one sometime next year. How high the 2019 spike will be is anyone's guess.