All of these decisions are yours.
It seems to me that a lot of people forgot about the line "invest only what you can afford to lose".
Don't really know what happened, people got too greedy, maybe it was just lack of guidance or research. It's all quite sad really.
It's only been 6 months that I've somewhat stepped into Crypto, and I do my research like it's related to religion. Even if I have some money that I can afford to lose, I still rarely bet it on Crypto.
I think they feel they can afford to lose it, because they don't think they will. When they do, they discover they couldn't afford it after all.
I say that's spot on, that really could be the case.