Whether someone should buy now or wait for a lower price actually depends on their investment approach. Following FOMO is clearly not a good approach if you don't have a strong mentality.
Some investors buy small amounts gradually and consistently, allowing them to buy when the time is right. But others hold back and wait for a price drop, even if only by a small margin. The approaches used are certainly different.
If you plan to enter with a large purchase, the tendency is to wait for a price drop. This is to get a good purchase price, although everyone's perspective will certainly vary.