So I am planning on putting 500 euros on Eth and Btc each(1000 in total) to hold for long term. Is it a bad time to invest in those crypto-currencies?
You've choose to coins that are good for long term. You are in good hands if you'll invest in bitcoin but why not try to allocate 75/25? 75% for bitcoin and 25% for ETH. The profit you can get with bitcoin is even higher than everyone's expectation. I would love to invest more with bitcoin than ETH. Bitcoin is always in good shape whether you'll buy when it's on peak or dip.