Come June 14th, those users who invested probably about 10-50 btc will all dump their WAVES and profit about 100%. Lets say someone invested about 10btc on Waves so he now double up to 20btc after dumping. Come halving, his 20btc will also turned 40btc. That's about 300% return. Will he buy back WAVES? more than likely NO. seeing he already squeeze a lot of btc during the release. it may take a year before WAVES will ever recover just like how Lisk turned out.
But he may possibly buy RISE instead to once again dump.
LISK is 3x over atleast compared to the ICO price in BTC and probably a lot more in USD. Not sure why you use the word "recover".
I'm fine with that if that is the short-term outlook for WAVES, but obviously in a perfect scenario, where WAVES accomplishes everything it set out as an objective I would valuate WAVES higher than LISK.