I will be happy if these bull runs are the effect of this halving. Though this process is healthy for the price but it is not healthy for the miners as mining will be inefficient for sometime until the price goes up and lesser nodes means slower network. Actually I'm waiting for halving to take place in 2020 but I suspect the bullrun will take place a year later meaning by 2021 we will see a huge ATH like never before
The has an effect on the market, the increase in supply of bitcoin will slow down. Some of these bull runs may or may not be a direct effect of the halving. Just like huge dumps that are caused by bad news spreading around the ecosystem, or some good news about legalization of bitcoin on some countries or some big companies buying bitcoin. The halving is not the only thing that influences huge price movement.
Months away from the halving event, there is a continuous buzz on this as to what can happen to the price of bitcoin before, during and after. The main consensus is that this can trigger an upward movement for the price similar to burning tokens to minimizing the supply. Will halving be the catalyst that can push bitcoin way beyond the $20,000 zone...many are hoping this can happen and I am one of the many expecting the same. Whether we can be disappointed or not...that remains to be seen.
Cutting the supply or slowing down the production while the demand is increasing will also pump the price. Bitcoin is made to have some characteristics of gold, to have a limited supply. Just like how the token burning on some alts are causing the price to go up, it is a proof that this scheme has influence on the price.