I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.
You were right that Bitcoin will correct further. Given the current state of the market, I still think Bitcoin can go lower than this point. A lot of altcoins which are very high went up as Bitcoin went up. Bitcoin hasn't gone down that much yet but with a little correction the altcoins have gone down a lot.
What do you think? Is this a good time to invest or should we wait more considering the market conditions?
It can be said that this is a good time for investment because the market is in a stable condition at the moment. This is a good opportunity to accumulate Bitcoin and other trusted altcoins before the halving effects start to show on the market, but it cannot be ignored that nobody's prediction can be 100 percent correct in the cryptocurrency market.
Therefore, the best thing is that every investor buys according to his investment and for how long he can store and wait, only an investor can know, taking advice from others is a good thing, but investment should be done according to your savings and personal mindset so that they can take complete responsibility of their decisions later on.