It is also because of the number of its supply and demand that makes its price high or low. Supply and demand for me is always opposite at each other, when there is an increase in supply there would be decrease in demand and if theres is a decrease in supply there would be an increase in demand.
There is problem with this evaluation, if there is a decrease is supply mean you cannot expect a demand especially because the demand depends upon the coin, if you take ETH do you have an idea about the total circulation and still the price is above $100, when it comes to bitcoin the amount of coins that can be mined will be reduced by halving and it will have an impact on the market and that is what is expected and hence the price will increase and that is the idea behind halving when Satoshi introduced and if you follow his path then we expect the market to move higher after halving.