There could be several reasons why many hesitate to invest, but like you said above, investment is basically a choice.
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
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.
Normal for people to hesitate especially when they don't know how to handle much the risk on their investment that's why usually they afraid to take the first step while market is calm and just be there when they are hype since they afraid not to grab when price is pumping then get FOMO. If they could just do a lot more research to understand those risk for sure they never think about hesitating once there's a opportunity coming up,
Also if they understand those risk which always there when it comes acquiring bitcoin for sure they can do good decisions on how they could handle some situation and just buy on the price they target without any further more doubts in mind.