It's correct, but even if we hold our savings on our own address there is a risk anyway: losing control over keys is possible not depending on how cautious we with their safety. So bitcoin can stay safe, not crash any how and we still can lose our savings. To keep in mind this probability is not what should be paranoid but what should motivate us for cautiousness each time we work with crypto. And to diversify our savings is not so bad idea even if we hope that bitcoin is not going to crash in the near future.