Bitcoin itself can be considered a risky investment, but what distinguishes it from other coins and sets it apart is that it is only subject to a lower level of risk than other coins. You must make the decision to take risks in order to be rewarded for them. This is not just about bitcoin or cryptocurrency; life is all about taking risks, but knowing which risks to take is what separates you from those who take any risk and fail miserably in their investments. In this crypto space, taking risks is more important than simply hoping for a good profit; "no risk, no reward, no gain" will be the perfect phrase for me in this case.
Bitcoin is not different from any other assets, it's not subjected to any lower level of risk, maybe that's how you view it, but the reality doesn't view it like that. Just like any asset, there are times they will be pumped and there are times they will be dumped, and about 3 years ago, Bitcoin was dumped massively from almost $69,000 to almost $15,000. Is that not scary for an investor enough? I hope you can tell that to those who bought it at a higher price when it fell that it has lower risk, even as some of them have lost 6 figures in the coin at that time. There is no investment that is out of risk and I have noticed that their risks and investment patterns are always similar, they have their seasons.
But good analysis and management can limit the level of risk, this is why it's important that anyone who wants to invest in Bitcoin to also learn about it especially the speculative aspect of it. This is what gives traders and investors an edge over the assets they are involved in, and they are good to go. It will be a disaster to buy Bitcoin in the offseason when the Bears are the reigning champions, and with my understanding now, Bitcoin is a very good asset only if we understand it and not be blind buyers.