One of the big debates is whether the halving is the key driver of bitcoin price action or whether it is macro forces like liquidity.
Supply halvings:
https://m.primal.net/HNfH.png
Global liquidity:...
Halving is one of the factors that will potentially drive the price of BTC, but NOT in seclusion. Yes, it will result in declined mining revenues, but keep in mind difficulty levels will also be high come 2024. As miners exit due to reduced incentives, transactions in the mempool will take longer and cost more, hence increased BTC price.