Okay so everything boils down to supply and demand in the end I think. If the block reward is cut in half but Bitcoin will have finite amount of coins at 21 million in 2140, will this slowing down of coin release make the price go up? So if we assume that, theoretically, not everyone is selling their coins owned before the halving and holding for a couple of years to see where the price is going to end up, this means we will have fewer coins on the market so if there are 'new' buyers looking to buy Bitcoin they will create a bigger demand, no? I am not saying the coins in cold storage will not enter the market at some point but they won't be used in circulation for a while.