From Nasdaq:

The price of Bitcoin has unexpectedly dropped to $40,000, following the SEC approval of new spot-price Bitcoin ETFs. This has led to concerns over whether it will dip even lower, causing worry among first-time crypto investors hoping to become millionaires overnight.

One explanation for the dip in Bitcoin’s price is tactical asset allocation, where individuals move their funds among different Bitcoin investment products. They could be doing it to maximize their short-term gains or take advantage of market situations, which is putting downward pressure on the price of Bitcoin.

However, despite the current decline in Bitcoin’s value, historical evidence shows that every major launch of Bitcoin-related financial products has led to initial price surges followed by downward corrections. This pattern has held true for events such as the launch of Bitcoin futures contracts and the IPO of crypto exchange Coinbase Global.

Despite the recent volatility in Bitcoin’s price, experts advise that now is a good time to buy the dip as the long-term growth prospects for Bitcoin remain promising. The introduction of spot-price Bitcoin ETFs has made it easier for both retail and institutional investors to access Bitcoin, creating a potential opportunity for sustained growth.

The Motley Fool Stock Advisor analyst team has recommended 10 best stocks for investors to buy now, but Bitcoin was not one of them. However, they still believe that Bitcoin presents a no-brainer investment opportunity under $40,000.



Read more: Bitcoin Under $40,000 Might Be the Best No-Brainer Investment You Make All Year