Some people say BTC is undervalued, some people say it is just a bubble which will end very bad for most investors.
Personally, i really don't care what is the case. I believe that a serious investor should consider the profit and risk most of all.
If they decide to wait for a better profit then they should understand that they make their investment riskier.
Unfortunately, i don't own any bitcoin (i wish i had!) but if i had some i would withdraw/spend some of them (at least at the level of my initial investment). This way i would have nothing to lose actually in case everything goes to hell...
By the way, i found an interesting article about different options to spend your bitcoins and buy stuff
https://www.tokens24.com/cryptopedia/can-buy-bitcoin/