In my opinion the price of bitcoin is due to the fact of being so easy to especulate with... in the beginning it was a brand new technology, i don't think anyone had any idea of what it would reach. At the current state due to the huge groth from last year, more and more people joined the boat, the demand increased, but the supply kept being the same. Most of those people who recently joined don't even know the technology they just heard that "bitcoin makes people rich" and they simply decided to buy some