1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
Considering the current market situation it is not a bad buy either if you are planning to hold for a year or you could even earn a couple of thousand dollars when the market recovers and propel back to $10k, another important thing is that when it comes to investment, you should not listen to anyone if you want to be successful as an investor, you need to have your own conviction.
Yes it is not a bad buy right now but I don't think it is a good idea on buying Bitcoin at random prices as you are considering that it is cheap in your mind. Remember if you are looking at Bitcoin as an Investment buying Bitcoin at any price is a dumb suggestion, I know you got that idea from the "dollar cost averaging" technique but to tell you the truth it is a dumb technique as you are not able to maximize your capital by buying Bitcoin at any price. If you want to Buy Bitcoin you must always consider buying it near the support which in this case is 7,700$ and the next will be 7,400$ by buying it near the support you are giving yourself a margin of safety for your investment.