I don't understand this logic at all. If you truly believe that bitcoin is resilient and will rise to greater heights then buy now @580 USD while it is down 50%!!! from its ATH.
he is fooling you, he convinced himself that the price won't drop any more because there would be many people who think in this way to buy up the market and become his bag holders
however he is also afraid of the fact that people are getting out of bitcoin and no one will save the crashing price, so he made this topic to fool more new guys
as you said, he won't buy now because he actually think bitcoin is over price, $380 is where he thought worth a bet, only as a bubble bet