Question Don’t know what to do

So as the title says I’m really not sure what to do here. I currently have a GTX 1070. It works but it is showing it’s age these days. I want to upgrade my graphics card but I don’t know if I should get a RTX 3070 now or wait for the 4070? I have a few hesitations with both. The 3070 is a fine card but it is approaching 2 years old. I’d be buying almost 2 year old technology when we are on the brink of a new GPU being released. That said it sounds like now the 4070 and 4080 won’t be released until next year and 40 series sounds like they are power hogs. What do you guys think? I know there are many in the same boat as me what are you planning on doing?
 
Wait for 4070 unless you are really concerned with increased power consumption of new cards. The performance is going jump a lot on 4000 series. So is is power usage, but what can we do about that. As a bare minimum I would wait till more info is leaked on how new cards will perform before making any decision, otherwise if you buy 3070 now you can regret that decision. Especially that prices while much lower now are still far from what you could expect from 2 yo tech.
 
Just remember, what happened last time Nvidia released new graphics card generation.
Previous generation disappeared from stores.
New generation prices went ultra high/stock unavailable.
Scalpers/miners went crazy buying up everything.

You may not get your desired 4000 gen card for quite some time.