This is not the ATH for the current cycle. All long term crypto holders and traders know that there’s always a new ATH for every crypto cycle that usually x2 of the previous ATH. I think those investors that buying at the current price is thinking a larger price target for new ATH since it’s proven many times since Bitcoin start trading more than a decade ago.

Buying Bitcoin at any price is never a dumb choice since its price keeps growing or recovering whenever it’s dump. It’s either you will left behind when price pump hard more or you will just end up holding Bitcoin if the price correct and hold it until it recovers.