A known mistake that investors repeatedly make is thinking “this time is different.” These investors live from one headline to the next looking for reassurance “this time is different.” Their Fear of Missing Out (FOMO) leads them to ignore realism and to buy assets at very high prices. For this reason I wouldn't buy Bitcoin right now. I believe in the future of Bitcoin, but in my humble opinion it's currently better to wait for a correction and buy on a pullback when everyone else is selling. "Buy low, sell high."
Bitcoin Weekly Chart
In the weekly Bitcoin chart below I have highlighted the 4 times when Bitcoin was being traded with an RSI level above 75 in the last 400 days. The Relative Strength Index (RSI) is a popular technical indicator that can help you determine overbought and oversold price levels in the trading of an asset.
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In each of the previous 3 times a correction took place. Will this time be different?