Right now demand is keeping up with the supply. Hence the stability.
Resolve the block issue and the demand will be greater than the current supply.
Cut the supply in half and the demand will be far greater than the supply.
Face reality that there are not that many Bitcoin left to enter circulation, and demand will skyrocket.
I agree that the halving will create a self perpetuating snowball effect from the buying pressure. Im being liberal with some assumptions but presently there are 3600 BTC mined per day. At a stable price of $450 per BTC that's $1,620,000 that's entering into BTC to maintain the price.
If the creation of new coins is cut in half to 1800 and $1,620,000 is still entering the market its inevitable the price will rise. The snowball will grow bigger as BTC gets more mainstream media attention and FOMO starts to take hold of the masses.
Its funny when I talk to common folk today about BTC the 1st they ask "is bitcoin still around?" 2-3 years ago it was "whats bitcoin?"
Point being almost everyone knows what bitcoin is or has heard about it but we didn't have the on ramps we have today. When the media hype starts it will be much easier for average folk to buy in. Once they get the taste of BTC it will be a slippery slope into the altcoin world.
Definitely exciting times ahead.