How will the Halving affect the miners? According to the laws of demand and supply, the scarcity of the Bitcoin supply will lead to an increase in Bitcoin demand, leading to a rise in prices. Is this only in theory though?

This is what I got from an article on the Bitcoin Halving and its theoretical effects: https://elitemininginc.com/2020/02/what-is-the-bitcoin-halving

But I think miners can't afford to proceed on just speculation. Or is that exactly what is going to happen? Seems we are entering the bear market again and we are only a few months away from the Halving