Everyone thinks bitcoin will pump next halving, when 93% of supply is already minted, only 7% of supply is halving. So expect a 50% increase max on 7% over 120 years.
You are doing too simple a mathematical operation. Where is the demand in your equation? What happens if the demand is multiplied by 1,000 or by 1,000,000 in those 120 years? Bitcoin is a scarce commodity of which there is less and less new supply. To think about how much the price can go up you have to factor in how much demand can go up, and also inflation in the fiat currency of reference, although I think like mk4 that the returns in percentage terms as the cycles progress will be lower, and I opened a thread about it at the time.
Was going to say these exact words, was just going through the replies to see a comment that captured it. The OP made his calculation with only supply parameter, forgetting that halving is not only about supply but demand. Even if there is little/no bitcoin to mine, the effect of halving will always be there.
Only the halving hype on social media will attract so many new comers into the cryptocurrency industry, and the people trooping in are the ones that increases the price of bitcoin.
While, your statement is right, the calculative application is wrong and that is why your result is also wrong.
