Does halving have any effect on Bitcoin's price?

Since its introduction in 2009, when it traded for cents or dollars, the price of bitcoin has increased consistently and considerably, reaching a high of $65,500 in April 2021. Because half the block reward effectively doubles the cost to miners, who are basically bitcoin producers, it should have a beneficial influence on pricing because producers will have to alter their selling prices to their costs. The price of bitcoin tends to climb in anticipation of a halving, typically many months before the actual event, according to empirical research.