There are many factors due to which an individual is scared to invest in Bitcoin
- volatility- The high volatility causes huge price fluctuations due to which people are scared in investing into BTC
- Legalisation- Bitcoin is not yet legalized in many countries which make people step back from investing into BTC
People are reclined to invest in Bitcoin when its price is growing and thus they usually buy the crypto currency on the high levels. After that the large investors dump their coins, therefore an ordinary holders sustain losses. It doesn't matter whether Bitcoin is legalized in all over the world or not, because people want to buy Bitcoin for a fiat currency of the country they live in. I can't call this factor a scare. It is just an being careful of avoiding a potential losses.