People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 
If you are pertaining to the market price that will be going to pump up again one of this days then yes, the price of bitcoins is actually depending on the people if they will be investing even more due to the market's supply and demand.