If there's a limited overall supply it follows that increased demand will move the price upwards. If supply can easily scale to meet demand, then scaling effect

If there's a limited overall supply it follows that increased demand will move the price upwards. If supply can easily scale to meet demand, then scaling effects take over and prices can come down. The economics of the situation are largely dependant on factors that few people have enough information to really assess (mining rates, total unmined supply, etc)