Basically in a halving situation, the economy is in a deflationary scenario.
In all deflationary scenarios the price of goods fall, in this case bitcoin will gain value, against fiat currencies.
1. "In a halving situation, the economy is" NOT "in a deflationary scenario." Decreasing base money supply and "economy [experiencing] a deflationary scenario" are two totally different things.
2. After the halvening, Bitcoin base money supply will continue to grow ("inflate"), just at a slower rate; will only be ~5%, instead of the ~10% we're seeing now.