Is it the right time to invest in bitcoin?
It depends on
how long you'll keep them and
how much money you need. If you want to earn a quick profit from that investment, I'd advise you not to choose Bitcoin, because despite the fact that it's way too expensive for profit variations, it's also not getting pumped and dumped. You may buy now that is $59,000 and within the next week, it may drop to $49,000. On a bullish market, like that one, such drop wouldn't be that bad, it could be considered as a “correction”.
But if you want to invest long-term, you can't really believe that Bitcoin won't exceed the $100k. I personally follow the stock to flow chart, which is the most accurate I have found out there: