During 1999 an equivalent to the block reward halving and the price not rising happened to the beanie babies:
The first signs of the crash came in 1999. One night, when the company announced which set of toys it would retire, hordes of Beanie Baby-loving eBay-watchers sat in front of their computers hitting refresh on the auction site, waiting for the attendant rise in prices that greeted previous toys retirements. When nothing happened, it triggered the equivalent of a market selloff.