Yes in my opinion.

Historically bitcoin bear markets have seen drawdowns of 60-70% from the peak of the market cycle, so right now I think that there is still some way to go.

It would be very wise, however, for anyone looking to get into crypto for the long run to get in at a price below $40k. You have very little downside but tons of upside potential, and the next halving cycle is just 4 years away.