So $35k is cheap for you OP? I think its a serious amount of money only rich people can buy in this current price if your just a normal investor with no huge capital $30k is already huge enough to gamble in BTC which the volatility is too high, if you have only $40k in your pocket, will you gamble the $35k and buy btc? Many people are hesitant to throw money into btc because of its tight regulations in every country but if this thing will be 100% legal worldwide btc will skyrocket up to $1m.
Given the future potential, it still sounds cheap for me. You should not go by the market cap. Because the market cap accounts for all the coins in circulation, including the lost coins. The real market cap of coins that can be spent may be less than >$500 billion. This is less than the market cap of major corporations such as MSFT, GOOGL, AMZN and FB. Even TSLA is having a higher market cap. Do you really think that TSLA deserves a higher market cap when compared to BTC? IMO, the valuation for TSLA should be less than 1/10th of that of BTC.