rewrite rule for dynamic subfolders using .htaccess in the root directory

rewrite rule for dynamic subfolders using .htaccess in the root directory

I have this dynamically generated url:
/folder/folder/folder/folder/index.php?product=bike
which i need to convert to a static url:
/folder/folder/folder/folder/product/bike
.htaccess is in the root folder
code
RewriteCond %{QUERY_STRING} ^product=1$ RewriteRule ^([^/]+)/?
index.php?product=$1 [L]