There is no scarcity on day one.  
Scarcity builds up over time. 
Not enough time has passed right when the halving happens,
which is why we see these speculative pump/dumps that try to price in the halving fail every single time. 

Also yes, miner capitulation is also a thing. 
Miners sell all their Bitcoin to pay the power bill. 
However, because the value of Bitcoin is already so oversold, who knows what will happen. 
It's very possible a pump will happen because the lockdown delayed it.