Buying now thinking that coins are cheap is like buying a lotery ticket. Bottoms are almost imposible to pick, but buying in the down trend is risky, it could go down even further. It is better to see the trend changing from bear to bull and then wait for a buying signal (or a couple of them). You will not buy at the bottom either but it will be less of a bet than buying on the down trend. Remember "The trend is your friend".
According to my technical analysis we could see a rebound from this levels, may be up to 3600 and then it will go down again. That is the short term. On the medium term we could be completing Elliot Wave 4 which means that only Wave 5 left before a long term bear market starts.
Here is my technical analysis
https://steemit.com/bitcoin/@freedomvigilante/is-bitcoin-going-to-recover-from-this-crash-technical-analysis-with-ledger-levels-fibo-and-elliot-wave
There was this situation before few years ago where LTC was for 50 bucks and then I dropped hard when at one time it was for 1,50$ and many altcoins were forgotten. If you really want to buy cheap then wait until everyone will forget about crypto once again and many crypto will be nearly worthless. Investing in something when everyone talks about it is almost always bad.
Agree
Agreed, especially if someone is telling you how you should diversify your portfolio. Again, be careful guys! Crypto is wild wild west.