Bitcoin at a low price obviously the best time for buying. But is it the low price? No one can ensure you what gonna happen in crypto in the next morning. If you feel this is a good time, then buy now. Don't make a quick decision about investment and forget about quick profit at this current situation. If you feel you can hold Bitcoin for a long time, whatever happens, you don't care, then buy now. Soon or later, you will get a good output.
Yeah, the situation right now is totally unpredictable as we can't predict how much low it would get. However, I think 7k$ could be a barrier that could stop it from declining even further. But still, the future is quite uncertain so I must recommend you to take each and every step wisely as only then you'll be able to get a good amount of profit...Sorry go say, I can't agree with you. Because I think if bitcoin goes for 7K USD, then I will be sure that it will go down further more! Bitcoin needs to bounce back to 9K USD, otherwise, 7K USD can be a bad signal for another bear run. Remember what happened last year.
It will go down below than $8k, and maybe we will see a low price again this time. But I don't expect the price to go lower than $7500 because that will make a panic at the market. Yes, bitcoin needs to bounce back to $9k, but it seems, it's too difficult to break the higher price so maybe we need to calm down for a while. Meanwhile, prepare yourself for another downtrend if it's really happening later.
It is what I've got by watching on Poloniex:
So be careful about deciding you want related to the market. Don't choose the all-in to buy more bitcoin but dividing into many prices placement.