There are a bunch of preconceived ideas about the aspects or justifications that affect the price of Bitcoin. I will give you some illustrations: Contest; Cost of production; Supply and Demand; Restrictions and Legal Matters etc.
What's the contest do you mean?
If you think mining rigs, maintenance, electricity cost etc are the cost of production to
create Bitcoin, it's not actually right because it's vary from one country to another, also many people willing to spend a lot to buy Bitcoin.
Restrictions and legal matters can affect Bitcoin price especially the big country which done that, however I haven't heard about restriction and ban of Bitcoin in the last 2 years.