its very risky and that makes it so fun

Bitcoin investment is not that risky if you just know when to buy and when to sell. Every investment has risk but there is a possibility for every investor to minimize or get a less risk when investing by doing study about the news and also analyzing the market very well and because of those two there will be just a small chance of getting loss and also you will get a lesser risk than before.
While what you say is correct, we need to have a plan, many newbies buy bitcoin without knowing what to expect and at the first sight of problems they sell not knowing that bitcoin is very variable and losing 10% in a day is not much for us, but a newbie gets scared and they lose money that way.
The mistakes that we make with bitcoin leads for a loss. For this users misquote it as a risky investment. We cannot deny that investment with bitcoin has got risk but the risk can be overcome and profited based on the knowledge we acquire before starting to use bitcoin.