I think you are right, the volatility is the biggest risk, right now bitcoin is about 11k, tomorrow morning we can wake up to bitcoin being either 5 thousand dollars or 15 thousand dollars and none of it would be shock to us, of course its always weird when bitcoin goes down 50% or goes up 50% but it is still not unbelievable and still not shocking, it is just either upsetting or very happy but not shocking.

This is due to bitcoin being so volatile that we are all used to it by now, we are not getting surprised about the incredibly weird movements of it. If you can get used to it you realize one thing though, if you win a lot of money all of a sudden you tend to cash it out and than waiting for a better price when it drops and if it drops than you wait because you know eventually it will go up.