the first bitcoin can have a high price because the market demand for bitcoin is very high one reason is because bitcoin is becoming popular and is starting to be accepted by the global market, the growth of crypto activists is very high even bitcoin is becoming a new trend among global society and hence crypto value is soaring but now bitcoin has begun to lose its appeal especially there are many coin competitors that will distract investors from bitcoin not to mention because the spread of bitcoin is increasing along with the increasing number of bitcoin inventories generated from the blockchain system and of course it will greatly affect prices because bitcoin loses value he added rather than other coins, namely "scarcity of supply"
then the question is what will make bitcoin recover and can have high prices again?