Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
It could very well be. If you're not invested now and just getting into Bitcoin, it may be a great price to get your first couple of coins. If you are heavily invested, you should think about hedging a bit - never go full crypto. Investing when we've crossed the $700 mark will be a lot safer, since we'd be in a definite bull-market then!