if no one spend their bitcoin then bitcoin price will be too much high but then bitcoin adoption will be too much slow and no one can be get profit from bitcoin easily and then i think people do not take interest in bitcoin.
if no one spend their bitcoin then bitcoin price will be down, if no one spend bitcoin demand for bitcoin will falls .
The price of a bitcoin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls