The Bitcoin halving is upon us

The Bitcoin ‘halving’ ( or ‘halvening’ as some say) is an event that takes place in the Bitcoin network roughly every four years, where the newly issued (or mined) bitcoin is cut in half, reducing oncoming supply. At a point near the year 2040, the total supply of 21 million bitcoin will be mined, and no more new supply will become available to the market. Economics 101 would say that holding demand constant, this tightening of supply, would lead to higher prices – which is what has been observed in past events such as this. Will this be the case once again?