Another important thing is that the investment is largely risk-free and you should invest the amount that you can afford to lose.
This statement from you is confusing.
Bitcoin is not risk free.
The advise about investing an amount that you "can afford to lose" is advice given to show that the investment (including an investment in bitcoin) could go to zero, so when you invest, you are choosing to invest into bitcoin from extra money that you have, and you are aware that you could lose up to 100% of your investment amount.
Still thinking of what could probably make one's investment in bitcoin to experience 100% loss but let me just see it as an impossible imagination even though no investment is 100% guaranteed but i don't think it is fair enough for someone to invest in bitcoin with the understanding that their investment can turn to zero. What i can just say is that while we are investing in bitcoin, we shouldn't only focus on the positive aspect of it when the price is seemingly increasing in value since there are times when the market will also become bloody so that when we experience such situation it won't cause us some distress.
We all know that Bitcoin is volatile in nature but Bitcoin is not in that stage where you can lose 100 percent of your investment, when we talk about risk in Bitcoin we mean probability of losing 10, 20 to 30 percent of your income and which can only amount to a total lost if you are a trader but if you are a long term Bitcoin investor that won't be that margin anymore because Bitcoin volatility those not really affect long term Bitcoin investor.
It is only some who those not know the history of Bitcoin growth that will panic when there's a fall in Bitcoin price, I have gone through the history of Bitcoin growth and I have seen how it was falling and rising so I can't panic for any dip in Bitcoin right now.
Again some people are afraid because they don't know what Bitcoin will become in future, yeah nobody can be too sure of Bitcoin future but if we deal with fact and prove Bitcoin will be more better and bigger in future.
there is a possibility to lose your 100% of your bitcoin investment if you are a trader, as we all know trading is also part of bitcoin investment not only by accumulating and holding for long period of time, no matter the stage where bitcoin is now if you are a trader in the process of trading you can lose both your capital and your profit which can be called your 100 percent, that's why it is advisable for someone to be on the safer side, he/she should buy bitcoin and hold for a long period of time using the DCA strategy in steady of trading.