a experience crypto investor will never buy when price is going up, capitulation is very important, that is the best time to buy and relax peacefully.
i've never heard of a rule about smart investors not buying when prices are high.
there are lots of investors out there who bought bitcoins for $60k and they are still holding them. not that the investor is not smart, but the investor does not care how the price of bitcoin at that time but what he thinks is bitcoin is a rare item that only has less than 21 million in supply in the market. and they believe that in the future when bitcoin is scarce the price will be higher than $60k.
look at bitcoin's track record from the beginning of its release until now, bitcoin will never cheat and never promise a profit but bitcoin provides real evidence if who knows what year the price will be very expensive and more expensive than the price of $ 60k