I learnt that the ethereum fork will bring about reduction in reward per block for miners from 3ETH to 2ETH thereby causing Ethereum to be scarce.
My question is will the scarcity bring about signifant increase in price?
Yes, that is definitely a bullish sign, as the miners get less as a reward for mining a block the supply in the markets will slowly begin to decrease and if we assume that the demand remains the same then a slow increase in the price is possible, but as we know the upgrade caused a spike in the demand and if we combine the two factors then the price will probably grow faster than expected, but now with the delay we do not know when the upgrade will take place.