For me yes this is the right time to buy bitcoin both as a long term or short term basis, this is significant enough since most of the market speculators are cashing in on all the befits of bitcoin both at long term or short term basis and this is what is most Important for any investor, some of the gains of holding bitcoin is that it value always changes at frequent time and is out of the control of any centralized or individual influence or control so bitcoin will continue to recover even if it falls below your buy price.
Every time Bitcoin goes into a correction it gives us an opportunity to buy more Bitcoin. Because we don't know how much the market will correct but we know for sure that in the future Bitcoin has the potential to trade in a much bigger price range than it is now. Bitcoin has been in a healthy correction for the past few hours after the last big uptrend such a correction was important, creating the basis for the next uptrend to further fuel the market.
Long-term investors buy Bitcoin every time there is a market correction to average their buying price. Because long-term investors know that if the market goes down, the market will recover from it, although it may take time, but they have the patience to keep their bitcoins in their wallets.