Forget about risk and when people walk according to the right process, then bitcoin is never a risk to invest. Price fluctuations are just a process of travel and we can avoid when setting long-term investment patterns and that makes everything riskier because someone comes to investing because they don't have knowledge. There are stages that we need to go through to make the investment bigger, the ways and strategies for each person may be different, but in essence, all of us make investments to make a profit, the size of the profit depends on the capital and how much bitcoin assets we have.
It seems that I agree with everything in your post, lizarder.. except I am a wee bit confused by the points that you seem to be making at the beginning of this responsive paragraph.. and you seem to be suggesting that bitcoin does not have any risk so long as you allocate in such a way that is by your own situation - but still, I am bothered by the idea that bitcoin would not be a risk - even though I agree with the overall idea that the level of risk is largely a matter of allocation levels...
JayJuanGee you are right because even though the risk level is dependent on the allocation level and personal risk assessment, that doesn't override the general risk that is available with bitcoin holding and since bitcoin can react in whatever direction it then means that bitcoin is naturally a high-risk investment and holding bitcoin for the long term or short term depending I the holder frame of mind and decision to should all be done having the risk in mind.
In some cases, bitcoin is a none guaranteed investment and the success level of each bitcoin holder is depending on the individual approach to the general concept of bitcoin, and how the holder decides to take profits or loses along the line without necessarily getting excited from the market in entirety.