I think The value of Bitcoin is highly volatile, and its price can fluctuate significantly in a short period of time. This makes it a risky investment, and some experts warn that the cryptocurrency may be in a speculative bubble.
Risky for whom? For traders or for short-term speculators? A long-term investor does not care at all about the volatility of bitcoin in a given period of time. He does not care at all, since he plans to make a profit years later. The investment attractiveness of bitcoin is well manifested precisely in the long term. If you notice that bitcoin in your short-term strategy gives you more inconvenience than profit, then it's time to think about changing your strategy to a more conservative one.
People lose a lot of money with bitcoin because their strategies have too little time between opening a trade and closing it, such timeframes are as unstable as possible. The higher the timeframe, the more reliable the analysis, and therefore the risk is reduced. Only speculators and traders speak about bitcoin in a negative way.
I have not yet met a single investor who, 5 years after the acquisition of bitcoin, would say that it is a high-risk investment.