Few reasons why people are hesitant to buy or HODL bitcoin/Crypto

[kryptqnick]

The tax concern is surely relevant in many countries, but not everywhere because there are countries where taxes and tax evasion aren't considered a big deal. There are also countries that already set out their legislation regarding cryptos, so it's clear whether they are subject to taxation or not, and, if yes, how that works.
Unequal wealth distribution is a problem, but I think it's about much more than corrupt governments. It has deep historical roots related by discrimination on the basis of race, sex, and sometimes social status or other factors. Some people can't afford to hodl, but if a person has some funds to spare, it's possible to save up a bit, and do that in Bitcoin.
As for #3, having we been in the dip for a while now? The price is around 60% below the ATH, and that's low enough, in my opinion.

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[Marykeller]

I think volatility is the root cause of this hesitation. People are fearful that they might end up losing their money if they invest in such a volatile asset. They are not willing to take the risk and think that they have missed the opportunity, and now it's too late to invest in the market. They neither want to come out of their comfort zone nor willing to understand the phenomenon. Government restrictions could be another reason, along with scams and Ponzi altcoins.

I wouldn't but concur with this that people's fear of investing in bitcoin is really a result of its volatility. They don't dare to continue watching as their bitcoin progressively fluctuates in a situation they have no control over or knowledge of. They don't intend to hodl their bitcoin investment for very long; instead, they want to see it appreciate in value as soon as possible. They never have long-term goals in mind; only short-term goals. 

People who are "scared of the volatility of bitcoin" have always exhibited that mentality when I have come into contact with them. There isn't much that can be done about it other than to let people invest at their own discretion.

[BALIK]

It's a big fat lie to include government restrictions as a reason why people are not buying and holding Bitcoin right now, they only don't want to get involved with Bitcoin so the government ordered their banks not to give access for customers to be able to accept Bitcoin, when it's ban it doesn't mean you can't have it.

In a centralized country, no one is allowed to receive or buy Bitcoin, but people need to wake up, Bitcoin can only be banned in a centralized country, but you forget that the rightful way of buying Bitcoin in the first place shouldn't have been through centralized companies and platforms, we people are the ones complicating things.

Bitcoin is decentralized and it should be acquired through decentralization, that's where peer-to-peer comes in role, find decentralized platforms and purchase what you want to, there is no way your government and banks can know you have access to Bitcoin.

The government can also be the reason why some people do not dare to invest in bitcoin, there are many law-abiding people who are afraid of going to jail so they never dare to do things the government prohibits. Not everyone is brave or defies the government's ban like us, don't impose your thoughts on others.

But the government reason is not the main reason why many people do not invest in bitcoin, there are many, many reasons that we cannot list them all. The reasons OP gave are just a few, what I see is that when a person doesn't believe and doesn't like something, they always have thousands of reasons to refuse. So to find out the real reason why more people don't invest in bitcoin is too broad a question.

[TheSpiral]

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

Yes this is the main cause that majority of people are not related with bitcoin investment. It does not means that bitcoin is not profit making but it means that anytime government can change laws and can cease the use bitcoin so if we have even more money in bitcoin it will be useless for us.

There is no doubt about bitcoin huge return but there is also no doubt that some government are against the bitcoin investment and trading and they will Change its whole structure once it come into their control. Select bitcoin and get the benefit from it as soon as possible because there is no guarantee about its live and it can be banned and stop for trading.

[GreatArkansas]

(...)
1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.
(...)

You really got the top 3 reasons. But I have some additional on the first once. This reason, restrictions from governments and governments are one of the best reasons because we all know the benefits of using Bitcoin especially if you will use it to send money from someone in different counties, and another thing is using Bitcoin for mode of payment or use it like money  remittance, we all know the fees and transaction time when you send money to someone from different country.

[Blitzboy]

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

Yes this is the main cause that majority of people are not related with bitcoin investment. It does not means that bitcoin is not profit making but it means that anytime government can change laws and can cease the use bitcoin so if we have even more money in bitcoin it will be useless for us.

There is no doubt about bitcoin huge return but there is also no doubt that some government are against the bitcoin investment and trading and they will Change its whole structure once it come into their control. Select bitcoin and get the benefit from it as soon as possible because there is no guarantee about its live and it can be banned and stop for trading.

You're right, pal. Governments can change their Bitcoin attitude quickly. Many have done it and may again. Your issue is genuine, but isnt it true for all investments? Bitcoin's vulnerabilities are similar to a company's stock price drop after a negative reputation.

I think users should be careful. We invest in everything, not just Bitcoin. Always monitor global news. While enjoying the profits, stay alert for legal developments. And as you rightly pointed out, if governments do decide to regulate or control it, the landscape of crypto will change entirely.

We're aboard this boat, without knowing if the storm will hit. Does that mean we stop sailing? Are we just better sailors? Your move.

[jeraldskie11]

Here are some of the challenges restricting users from buying and hodling bitcoin:


1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

Even if the government has banned Bitcoin transfers, there are still various ways to do so, but they are inefficient, especially for individuals who are unfamiliar with Bitcoin. So, in my opinion, this is one of the reasons why people are hesitant to keep Bitcoin.

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Feel free to share your opinion on how we can fix this.

There is always a good time to buy Bitcoin in order to reduce risk and maximize your chances of making money. So rather than investing Bitcoin at a random price, we should learn how to assess the market. Those who bought a high price did so because of the hype, and we must be aware of this so that it does not happen to us.

[TheSpiral]

I think users should be careful. We invest in everything, not just Bitcoin. Always monitor global news. While enjoying the profits, stay alert for legal developments. And as you rightly pointed out, if governments do decide to regulate or control it, the landscape of crypto will change entirely.

We should not come to an end with investment as it gives us freedom to settled our condition in better way but we should be acquitainted of the risk involved in the sort out business. Dependency on investment should be shun as it can make you disappointed anytime.

Always remember that as risk is the integral part of investment so we should be careful about it and whenever we have some beneficial moves then we should accept it otherwise we will fail to take the opportunity after which crying will be our predestined.

If we are saying that we are not taking this sum because we need more then surely you will be unable to take this little sum again as opportunity never exist always.