I have seen there whatever has a huge upside also has a huge downside. This is the case with crypto currency, including bitcoin.
Can we point out the risks that one faces in investing crypto assets based on these:
1. As a retail investor
2. As an asset manager (hedge fund business)
3. As a trader.
The main risk of this market is volatility and it concerns traders first of all, as investors don't care about short fluctuations.
As for investors, one risk I can think about is the problem of storing your assets. The safest way to store your bitcoin is cold wallet. One more important thing is to keep your keys and passwords in a safe place, as despite losing your cold wallet, you can recover bitcoin if you remember seed phrase.