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.
In your statement or ideas, what are the elements that can influence the price of bitcoin?
Majorly according to me, the price mainly depends on supply and demand. As the Bitcoins are limited in number, that is the supply cannot be increased more, hence when the demand of the coin increases, the price will also grow. This can be simply demonstrated, if you visit an exchange and there is more buy order than sell order. Yes the other factor also affects the price and act as catalyst, but this supply and demand factor plays the important role.