You are pretty right most people are skeptical about Bitcoin investment probably due to speculation from friends and family or social media which make them have that negative inception in them and always make them think awkward about bitcoin. According to my research I was made do understand that why many people are afraid of investing in bitcoin is as follows:
1. Extreme volatility
2. Neither commodity, nor currency
 3. Don’t invest if you don’t understand
4. An unregulated space
5. The issue of legality
6. Ponzi schemes abound
7. Prone to illegal activity
You can click on this link here,  for the full explanation

But however, this factors does not implies that one should not hold on to Bitcoin. Or invest on it. I see this factors listed above as a deceptive factor and a speculation due to misinformation and lack of Doing proper research. Lack of focus with negative mindset Leeds to misconception. Despite most of them are true, but we should always take advantage of the important part of it rather than sticking to the negative aspect. Everything that has advantage also has disadvantages but the advantages should not be underestimated. Just buy and hold is the way and nothing else.