Most probably the price will fall down to the level before the sudden raise. To minimize losses I would definitively wait with buying until August 1st and not until the prices go up again constantly. Right now we are in a bearish market, so unless you are a day trader, buying and holding is only an option if you calculate with a gain in the really long tirm, might be in 2-3 years, until we reach the all-time-highs again of this year.