Some people argue that the reduced creation of new coins will take pressure off the price which could lead to a rally. Then again, that would only be true if mi

Some people argue that the reduced creation of new coins will take pressure off the price which could lead to a rally. Then again, that would only be true if miners were actually selling off their newly created coins immediately instead of holding them while waiting for higher prices. The other aspect is the miner's inevitable margin compression. From the numbers we have seen (e.g. KnC in 2014), it seems that these companies are already operating on razor thin margins. Whatever money they have made, they needed to re-invest into upgraded hardware in order to stay competitive. Unless there is a meaningful increase in price before the reward halving, a lot of miners will likely run into trouble.