Asslamoalikum

Currently I am exploring what cryptocurrencies are, how they work and how they come into being. I just learned about the story of Laszlo Hanyecz. In 2010 he spent 10,000 Bitcoins on two pizzas worth only $25. Today those 10,000 Bitcoins are now worth $267 million. It's a mind-blowing increase in value over just a decade.

I understand that Bitcoin is a decentralized currency, which means it is not controlled by a central authority. But what I can't understand if there is no central authority that determines its value, and why does it fluctuate so much?

There are certain factors that affect its value. It can't just be a random roller coaster ride. I am curious to know if there are any factors that affect the price of Bitcoin. I would appreciate any insights you can share to help me better understand the forces affecting Bitcoin's value. Thanks in advance for your guidance!