the price of bitcoin drop sharply to it low within 24hours on 12th of on janaury , although the price recover to some few percentages , is the crash over now or more sell position will come in few days time . am thinking of buying at 34k , my question is it good to take a long position now ? what is your bias towards the market today .
34k is too hight and risky to invest. Try to separate, for example 1/3 in BTC, 2/3 ALTS.
The alt coins are almost uniformly just trash. Little innovation, centralized or both. At worst, 90% bitcoin, 10% alts.
As far as bitcoin being "too high" at 34k, people said the same thing at $1, $10, $30, $100, $1000, $2000, $10000, $20000. Really, go back and read the forums. Look at slashdot when it hit dollar parity and then gold parity and the milestones in between. People may still be waiting for it to get "back under $1" (or $100, or $1000). The correct answer is that NO ONE KNOWS.
If you believe in the use cases for bitcoin, of which there are numerous, then the price will be higher in the future. If you don't, then you shouldn't be in any crypto at all. At worst, dollar cost average into your position. Of course if you started that in November or March of 2020, you'd have been better off going all in. No one knows the future though.
Market timing is only luck.
What altcoins you talking about? I mean ETH, XLM, XRP after SEC maybe.
invest in 34k and in 1 dollar - different things, you know.