In the few halvings that I have seen or witnessed, most of the people who bought bitcoin buy it when the price of bitcoin is too expensive. This is the same type of person who rushes to buy bitcoin when it has taken off.

Yes, most people know to buy bitcoin on the dip, but in reality, that is not what most communities in this field do; only a small percentage of those who actually buy bitcoin do so. Even until now, for sure, 100k bitcoins will be bought by people who don't know anything about bitcoin. Right now, they will say Bitcoin, but when they see 100k per bitcoin, they will decide to buy it.