Generally the majority of people do not understand the word risk at all, they just understand it in a superficial literary sense of its definition. Investing in Bitcoin can be considered risky
Upon any investment made, there lies a percentage of risk attached, however, this should not be the reason for us to arrive at a conclusion that everything about bitcoin investment is full of risk, instead the problem here is how people got themselves into a bad shape and expect that all things should be alright, if you don't make a wrong move, then you're likely to be halfway safe, then when you're being profitable by your investment, then you break even from the investment.
Everyone should be aware of the risks they face on the investments they make but there are goals they want to achieve so that the risks are slightly set aside but that is not always true because basically the risk must be understood so that we can be careful in every step we take in investing.
In all investments there is a risk, that must be understood and the level of risk will be proportional to the potential profit obtained but we need to understand this so that there is a lot of learning that we do to minimize the risk.
It's easy to manage the risk in bitcoin investment by investing with your discretionary income for a long-term goal and hodli. You are to also set up emergency funds as you have started your bitcoin investment so that whenever a real emergency hits you during your accumulation journey, you don't need to sell part of your bitcoin but use your emergency funds. You should also not sell during your way up to back at the dip, just only keep accumulating till you reach your bitcoin target. Don't invest with the amount of money that you cannot afford to lose and keep your bitcoin in a self-custody wallet where only you have the keys.