BTC - but who will buy it?

$BTC
BTC — undoubtedly a great creation, and without it, there probably wouldn't be cryptocurrency exchanges, or they would have appeared much later.

But I keep asking myself: who is currently ready to buy BTC at the current price?

Scalpers, in the short term — yes.
And what about as an investment tool? In my opinion — no.

I think everyone has come across publications that some states are planning to buy BTC as a reserve. Also, many funds are supposedly going to or have already started including it in their portfolios.

I do not doubt that this can indeed happen, but I don't understand why many believe that buying will start right now, at the highest price. Most likely, real buyers will wait for a price drop, at least by a third from the current level.

I wonder if there are any among us who are ready to buy BTC for long-term investment purposes at the current price?

I do not insist on my correctness, but the more forecasts of BTC rising to 150 thousand and above by the end of the year, publications about the intentions to use it as a reserve asset in state funds, and so on — the higher the likelihood of a price decline.

Many remember the last two halvings $BTC .
Reference: Bitcoin halving is a programmed event in the protocol that halves the reward for mining a block, paid to miners. Thus, the number of new bitcoins entering circulation is reduced by half.

Before each halving, numerous forums and media predicted a price rise. What happened in reality? Right — a fall.

Look at the BTC chart and ask yourself: what will happen to the fund or central bank of the country that bought at a price of 105,000?
Imagine yourself as the head of an investment fund and ask yourself: am I confident in buying at a price of 104–105 thousand dollars?

Conclusion:

At present, enthusiasm around Bitcoin is reaching new heights, but it raises the question: is the current price justified in terms of long-term investments? It seems that the market is more prone to speculation than fundamental assessments. Real players — states and large funds — are more likely to wait for more favorable conditions. And rapid forecasts of up to 150K and above may signal a correction. The history of past halvings and the behavior of the price after them also makes one think: perhaps the market is still not ready for stability, and there will be a decline before the growth.