It depends. Smart money always buys in when there is blood flowing through the streets, but dumb money on the other hand buys what is going up, and I am quite certain that they will provide the liquidity smart money needs to unload just before or just after the block halving.
The mass is so focused on price action (regardless of the asset), that they sell just because the price is going down, and buy just because the price is going up. This isn't always bad though. Dumb money that sold early 2018 did very well because they didn't have to ride the market down all the way to $3150 which most hodlers did.