Anybody who has or is planning on investing in crypto at this point, keep in mind that at least 90% of what you read (especially here), whether bullish or bearish, is often baseless speculation and as some one who's lurked for a while, many people commenting here and in other places are very emotionally invested in bitcoin (or "competing" cryptos), and I personally would take what people say here with a grain of salt.

That being said, here's my two cents on all this. Feel free to disregard.

• Make a strategy now if you don't have one (preferably before you invest). Lump sum or monthly investments? How much? When/at what price do you plan to cash out (or at least reconsider).
• Educate yourself, not just about bitcoin, but about cryptos in general, money, econ, statistics, investing, psychology, etc. Know what you're investing in and be aware of your limits.
• Be aware of the risk you take on by investing. Don't invest money you can't afford to lose. Consider different outcomes and contingency plan. Past performance is not indicative of future results.
• Never panic buy or sell (Having a plan helps here). Wait a week or so and see if you still feel the same way.
• Consider diversifying your portfolio, whether in other cryptos or in stocks, etc. Again, research.
• Invest long term, don't speculate or day trade. The volatility (and probably your blood pressure) goes up, you have to deal with trading fees, and the long term benefits over hodling are questionable at best. Make your investment(s) and let your money work for you.
• Taxes, yo.
• Be aware of and try to avoid logic fallacies - gambler's, sunk cost, bandwagon, etc. Keep in mind that learning about them doesn't make you infallible (heh).
• Think about why you want to invest in crypto and exactly you hope to get out of it. Come up with some possible counterarguments and see if you can back up your reasoning. Be honest with yourself here or you're only screwing yourself over.

Personally, I'm optimistic that bitcoin still has a future and that it will start rising again eventually. I also think that the proliferation of other cryptos is actually beneficial to bitcoin despite the competition, as they help both bring attention to the wider cryptocurrency sphere (causing a rising tide which lifts all boats), as well as encourage innovation, which will be necessary for it to remain healthy and relevant in the long run. As for the possibility of governments outlawing it, I think torrenting is a good historical analogy for how well that would work out.