In halving, what happens is that the supply decreases, but the demand is either constant or increasing.
Why do you think demand can't decrease?
Besides, remember we're talking prices denominated in $ here, so basically the supply in November was already lower in $ than a halving at these prices, the last having cut the daily printed coins value from 18 mils to 9 mils, right now we're at around 38 million a day, so twice as much "supply' for investment as prior!
And every single cent added to the value is making the daily supply going up so basically inflation where you need more and more to cover the increase!
Anyhow, seeing the other replies the more I hear people saying that a huge drop is going to be another opportunity at buying the more I think I should start to invest in a kool-aid manufacturer, in two weeks we're going to have 3 years since we first hit 40k, another drop now? The moment the returns in the last year from investing in Bitcoin start to resemble just like normal shares be it google or apple the appetite will also go down, the money flow will follow the same pattern, most investors are not going to wait till they can't hit the toilet bowl from 10 tries to get their returns, they want it in a somewhat reasonable frame and a 50% drop after the much cheered ETF and even after the halving would be the complete deluxe frosting on the cake of refusal!