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I don't think it's necessary to continue discussing the risk to you because it makes your friends continue to panic and be afraid to invest. It's a good idea to explain strategies and steps to play cryptocurrencies properly and correctly. when exactly to buy and when exactly to sell.
I think if it's like this, your friends will be easy to understand and interested in investing.
Now that's a stupid one, if you aren't an expert on trading or works as a professional on the field, you don't have the right to discuss strategies because you're just feeding them BS that might not work for them. Telling them right away the risk is much better because you let them know what they're getting into so they won't blame you when there's losses.