What factors caused the rise and decline of the persecution of witches in witch trials during this period? Were they religious, social, economic, political or were other factors more key?
This sounds like a homework question - you might want to check the subreddit rules about that, it's a lot better if you come in with a little bit of reading and some specific ideas and questions.
I'll continue on the basis that it might not be homework or at least start you off in the right direction. There's a lot of variation between countries and the patterns of witchcraft in Europe and associated different reasons. I can only really talk about England in which case you're looking at a pattern of generally moderate prosecution of witchcraft, linked into intra-communal disputes and a legalistic approach with the state legal system returning low rates of prosecution and disapproving of mob justice. It was kept in check by sceptical state Justices and a system that put witchcraft amongst other more prosaic crimes, though disproportionately aimed at women. It had few religious aspects, and was overwhelmingly a rural phenomenon, often with links to existing village tensions.
The rise of witch-trials in England, in the 1590s and the short lived real witch hunt of 1645-1647 were generally linked to points where social and economic stresses amongst the lower orders of society were more serious and the control of the social elite was weaker. It was brought to an end as an increasingly sceptical judiciary put more and more obstacles in the way of successful prosecutions.
By far the most important author on this is Malcolm Gaskill but check out Ian Bostridge as well.