It is very possible but really hard to tell and judge. While it seems like that is what will happen we have seen the last two hard forks have a short sell off and then bitcoin hit a new record within the same week after the hard fork takes place.

Bitcoins market cap continues to increase and become more dominate now over 60% while it was 40% just 2 months ago.

There is also talks of yet another fork for bitcoin now towards the end of November. Which might end up keeping people in bitcoin or bail. Its really difficult to tell at the moment.