Bitcoins price depends on the demand of the market. If the bitcoin is limited, the value goes up, if it is many the value go down. Just like the rule of economics, the more the product is in demand, the value goes up.. If its not in demand, the prices go down. It is also like a gold, as time goes by, it's value rises.
you are right but don't forget that there is a time to see the pump for making the price increase higher and decrease lower and it makes people become panic because they are not ready to buy or sell bitcoin. the whale is one of the aspects that could makes the price increase and decrease and sometimes they can push the price to the higher price but it's back to the market demands. and as long as there are any demands in the market, the price will always change from time to time.