That would be the best news ever for bitcoin community and bitcoin currency as well.
I think we'll definitely see a surge in the value if that happens. This may also quicken up the transactions, hence great but a big IF, if that happens
I don't think that the price is going to rise specifically due to fees going down
First,
the fees has been rising along with Bitcoin prices, so the decline in fees may as well be associated with the decline in Bitcoin price (or just stagnating price). In other words, no more hype (which gave rise to recent steep rally) and thus no more high fees (due to people transacting less). Further, the price is determined on exchanges, and these don't involve fees besides initial deposits. But after you move your funds to your exchange account, you no longer care for the fees. The bottom line is that lower fees will hardly make the price rise on their own. Quite the contrary, they may in fact be
a circumstantial evidence of future price declineif anything
the opposite should be true. if the price declines more or plans on declining in the future there will be a lot more transactions filling the mempool and it won't drop. and also if you put the two charts (charts for bitcoin price and chart for memory pool size) they don't overlap much apart from when
price is either rising or falling there is a rise in number of txs (because in both cases many people move bitcoin around, some move it to sell and some buy it from them at cheap prices and move to their cold storages) and when it becomes stable and doesn't move more than $20 the number of txs drop
You are missing the whole picture
If we assume that fees correlate with the number of transactions (which seems to be a pretty solid assumption) and this number is going down (in the long term, obviously, apart from usual variation), it means that Bitcoin is used less, i.e. it loses its appeal and value. I can't possibly see how that could mean higher prices. If we talk about daily volatility, people may transact more, of course, since they are most likely moving funds to buy the dips and sell the highs, but if the number of transactions gradually declines over time (together with fees) this in general doesn't bode well for Bitcoin