It could be that or the opposite. I had heard the opposite from my friends when I first mentioned Bitcoin to them and they were like, "oh that sCaM cOIn in the dArK wEb". There are division of thoughts when it comes to cryptos and we can't blame them anyway since they're not too techy or was not aware or knowledgeable about it.
I never heard from someone in my social circle ever that Bitcoin is volatile investment and to this day, I am still waiting, lol.