The high volatility is a major risk. People who accept BTC as a means of payment are often in the red when prices are falling. Government regulations represent another risk.
High volatility can be of advantage too. Consider you made a deal when bitcoin price was 30,000$. Now bitcoin price is 50,000$ means that you are in a 2x profit (approx.). So you should consider both sides as if the price goes high, you will be in advantage.