Crypto market analysts predict that Bitcoin investors should wait for the BTC price to drop to $40,000 to get the best entry price before the next bull run.

“We expect Bitcoin prices to fall to $40,000 to be the best time to enter the next bull market,” said Markus Thielen, Director of Research at 10x Research. Once this level is reached, Thielen predicts a major rally.

Bitcoin was last trading at these levels on Feb. 6 at $42,577, according to CoinMarketCap data.

Other Expert Opinions

Thielen is not alone in this view. Other analysts also think Bitcoin could fall to $40,000 in the next few months. “Bitcoin has an equal chance of hitting $40,000 or $80,000 in the next 60 days,” Timothy Peterson, founder of Cane Island Alternative Advisors, wrote in a post on Aug. 5.

“If Bitcoin breaks this support, the next target would be $40,000,” Crypto Rover commented. “I would like to see Bitcoin drop to $50,000 or even $40,000. That would be a great opportunity to buy,” said David Gokhstein, founder of Gokhstein Media.

ETF Investments and Market Reaction

Although Thielen believes that Bitcoin’s current price could present a buying opportunity, he recommends setting a stop loss at $54,000 because “risk remains on the downside,” he said. He added that there have been outflows from ETFs, particularly in the last three days, and they do not see this as a buying opportunity.

Thielen noted that investments in U.S.-based spot Bitcoin exchange-traded funds (ETFs) that launched on Jan. 11 are currently at a loss because their average price is “around $60,000.” He noted that despite $17 billion flowing into spot Bitcoin ETFs, it was surprising to see Bitcoin fall below $50,000 on Aug. 5. This puts Bitcoin close to its launch-day price of $46,656 on Jan. 11.

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