Yes this could be the right time to purchase. Because of the good news from China yesterday and today. I think this is the reason that i already see some green in the market right now. And in America things are also happening. There is a platform coming for institutional investors and the first Bitcoin ETF might get accepted in the coming months.

These things can really lift and change the market, but you are never certain. The market could still be bearish because good news and lifting prices also mean that many people will finally sell their crypto against the higher prices. We don't know if those short-time holders have already been gone and i hope what remains now are mostly long time holders so that a possible bullmarket will not see an immediate sell-off.