Since the bitcoin price has increased that much i think the minimum reward point conversion to bitcoin should also be reduced. I have currently 50000 Reward points and reaching 100000 Reward point may take another one year for me.

I think that you should gamble more to get to 100,000 quicker.
As said, RP's always been for gamblers. This is why you don't get them from referrals, this is why you don't get them in large amounts, and I would vote even to increase the RP min for encashed for new accounts OR for those who never deposit and wager.
Maybe even do it something like the bonus free satoshi. The more you wager, the lower your redemption threshold.
This will make it unpopular with freeloaders. But it's not like the site loses anything from them right?