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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.
Blaming would be there because they do know that you are instructing them on what to do and giving out somewhat some assurances with crypto investment and if it turns out to be bad then theres no other that they can blame off but only you.
You can recommend bitcoin to a friend but always remember to tell off about the risk so that they wont really be expecting that much in regards to this.
They would only realize off things when they do already got the experience on their own. Just dont make any assurances that they could really profit off from time to time.