in my opinion, the value of BTC depends on public demand responded by mining. then a transaction will be processed in each block and the hash mined.
the impact is variable transaction costs. sometimes expensive and cheap.
I want to add that the price depends on public demand only when there is a positive news background, for example, as in 2017, bitcoin was officially recognized by Japan or when there was a hard fork in agvust. It is backed up from the economic side very much.