I call it the Bitcoin Tsunami Effect. Like a tsunami it begins with a tectonic shift at the bottom of the market (ocean) that releases a supply shock. The Halving date comes and the mining reward is halved, like in 2012, '16, and '20. Money then moves in to fill the void. This causes an ebb tide in the BTC denominated altcoin markets. The altcoin markets pull way back as the BTC gets sucked into the void which pushes BTC into a new all-time high valuation.
Then, on it's first pullback after an all-time high, altcoins start the tsunami flood tide. I expect Bitcoin to push to 60-70k and on that push altcoins will surge higher in their btc valuations. This is one of those rare moments where you can make bitcoin while bitcoin goes up in usd value.
I would expect the process to repeat again in 2024 at the next halving as well.