Some people say Bitcoin is great to keep your money safe. I don't get that. A good way to keep your money safe means its value doesn't change much. But Bitcoin's value goes up and down a lot, so it's risky.
No one ever said that bitcoin investment is not risky, also being volatile is the reason why people decided to take the risk in it adoption for an investment because they believe in it's value to increase over time, being volatile will make some sell, hodl while those been investors will also find a means of investing when the market goes dip, everything all works together for good, if you're a trader, you can be making income through the bear market while others are loosing, everything has to be base on understanding.
Why trade the safety of government-backed insurance for something that can change so much?
Not all the government supported bitcoin, also know that bitcoin is not centralized, it is decentralized and no government has rule to influence any changes in it.
Bitcoin will continue to go up and people will either begin to use it as it was intended again or is it possible for it to become obsolete.
Has it ever once been obsolete over the pass 14 years since it's creation? Of not then i don't think it will ever be, the more we go the higher the increase in its adoption and people using it for their daily lives despite some government are showing unchallant attitude towards it.