I buy it when i think price is low, but currently i don't think it's time to buy. I would wait if price will go back to 350$ and the buy it. But price at bitcoin is like ups and down, you never know what is behind the corner. 
Yeah the current price is too much. I really think it will go back very hard in a few days. Then offcourse I will buy back much lower. To me 2 scenario's are going to happen
1 We see the 500 usd value
2 We go back somewhere in the mid 300
The potential loss of 150 dollar is just to much of a risk, so I am not buying now.
the price value is relative, 500 is high to 230 but low when we reach 1k, there is no going back everytime, bitcoin can only follow two route, up or down as average
this mean that the only two possible utcome is a really great value for the future, or bitcoin is simply died, don't expect the same pricein 10 years...