I wouldn't buy altcoins right now, because I want to gain the new "Bitcoins" on hardfork in October and November. But if you don't care, it would be the right time to buy alts. They will for sure go up, after the Bitcoin "show".
You don't have to buy alternate coins using bitcoin directly. Use your fiat savings and convert them to alt coins. Hold them for a while and wait for the price to recover. Once it goes up sell them and enjoy your profit.