This new thing will not be enough to end the ongoing halving party of bitcoin markets. Even anything may not be having such power to end this as bitcoin is the pioneer which means people believe into it regardless of whatever technology or revolutions you will be bringing in. I am not saying these just for your new algorithm but there were similar innovations had been introduced here but none of them sustained against bitcoin's evolution.
Probably governments' regulation or big corporate's negative sentiment nor anything will not have long term impact on bitcoin markets for sure.
Bitcoin doors for new miners who cant afford expensive hardware and electricity bills are close for ever. Whats important is that there are other options available where new miners can mine the coin profitably aka MASS.