Is it a good time to buy and hold for now? or wait for lower price ?

With the rising market growth of non-fungible tokens (NFTs), more projects are launching into the NFT marketplace. In August, the digital marketplace OpenSea recorded over $3.4 billion in transactions across 1.67 million non-fungible tokens. In July, its sales reached $325 million, following less than $150 million in June. The exponential growth corresponds to a shift in NFT content being auctioned, which may impact the development of digital strategies by brands and sports entities.
 
Briefly speaking, the current application of NFT is selling the ownership of "illustrations& gif". One can "own" popular pictures on the internet through an auction.
What is NFT
Famous meme NFT Nyan Cat sold for 300.00 ETH (about $590,000) in an online auction....

Bitcoin dropped as much as 16% on Tuesday morning  after breaking through $52,000 late Monday. It was last down about 9.5% and trading at $46,892.04, according to Coin Metrics. Ether fell 12% to $3,441.21.
XRP and Polkadot’s dot token were down even more, having plunged more than 20% during the same 24-hour period.
Several market observers emphasized that bitcoin suffered this downside amid robust selling activity.
Source:
Bitcoin tumbles nearly 10% as El Salvador adopts it as legal tender