The upcoming halving is one of the biggest challenge the miners will have to deal with. Small scale miners will have to go out of mining and probably will start with a different coin because bitcoin mining will not be profitable for them anymore. It will be cheaper for them to buy bitcoin from the market rather than mining it. Otherwise they will have to find an alternate source of energy which is at least 50% cheaper than the current electricity cost they are paying now. Or they will have to start implementing solar panels to continue mining. In a nutshell, small miners will be forced to find a new electricity source or move to a new coin to mine.
 
The global slowdown making things even worse for the miners. However, the only silver lining is that the, global slowdown will not last forever. The current slowdown is temporary due to the COVID-19 outbreak and the market will come back to track once this crisis is over. That recovery may not happen overnight but eventually it will happen. As soon as the lockdown is over, people will start flocking the streets buying essentials and non-essentials like before. This increased demand will help the industries to recruit people to continue with their production and thinks will start rolling towards betterment.

Not sure, what would be the impact on bitcoin, but I expect things to come back to normal slowly. More and more people are selling off their bitcoins so that they can cope up with the current financial hardship. let's hope for the best!