We should always remember two things of prophecy. First,

“But it is easier for heaven and earth to pass away, than for one tiny stroke of a pen in the law to fall.”
Lk 16:17

Jesus here seems to using the word “law” to be the entire Old Testament. So we may not understand how, but there is nothing we read in prophecy which will fail.

Second, prophecy is conversational, and topical, not sequential

And what will be cut off “in that day.”

It apparently is speaking of the days of the ruler of Mic 5:2, and it says,

“It will happen in that day,” says Yahweh,
“That I will cut off your horses out of the midst of you,
And will destroy your chariots.”
Mic 5:10

Ancient Israel was not to trust in horses and chariot, Deut 17:16 and so on, but in the Lord. Neither should we trust in tanks and fighter jets. But that has been neither ancient or modern Israel. But it will be at some point. Then in this rambling discussion it seems to refer to the first fall of Judah in 586 BC, in Mich 5:11. Then he says,

“I will destroy witchcraft from your hand;

“ And you shall have no soothsayers.”
Mic 5:12

That was a big problem with ancient Israel, and was still a problem in the first century, and is with many modern Jews in the Kabbalistic lore.

The Kabalah (also Cabbala or Qabalah) was a writing down of the ancient Gnostic traditions of the occult, by Spanish Jews of the 12th and 13 centuries AD. It is the fountain head of almost all modern witchcraft and magic and the occult, and is very influential among many Jews even of today. It is even a support for some idolatry.

But one day, when Jesus draws the Jews to Himself, it will all go away.

Also all idolatry will pass away

“13 I will cut off your engraved images and your pillars out of your midst;
And you shall no more worship the work of your hands.
14 I will uproot your Asherim out of your midst;
And I will destroy your cities.”
Mic 5:13-14

The Asherim are images of Asherah, we might call her “mother nature.” Sadly, goddess worship still exists among some Jews and gentiles. These issues are dealt with in Jewish Chronicles, to be released in the fall of 2020. And lastly, Micah seems to deal with,

A Judgment day which is coming.

“I will execute vengeance in anger,
And wrath on the nations that didn’t listen.”
Mic 5:15

Everyone will have to appear before this ruler of Mic 5:2.

“I tell you that every idle word that men speak, they will give account of it in the day of judgment.”
Mtt 12:36

““But when the Son of Man comes in his glory, and all the holy angels with him, then he will sit on the throne of his glory. 32 Before him all the nations will be gathered …”
Mtt 25:31-32

Scriptures are from the World English Bible (WEB), a copyright free revision
of the original ASV American Standard Version 1901