Much like how gold and other things got expensive, it is how much people are willing to pay for it. You have to remember thst crypto currency is based on supply and demand (like any other commodity) and price would move depending on how much people are willing to pay for it. I just don't know the technical side of it.
indeed the same as a market, if demand is high and supply is small, price will soar. besides that of course bitcoin technology is the answer to future evolution