I would say it is better to save because you never know when this ride will end.
I have experienced it with some alt coins and they die so quickly that you need to move on.
But bitcoin seems to the one that will always be there in the end.
My investments in the alt trading life made me more aware of saving instead of spending.
Having some savings is always a good idea but the problem is, What are you going to save? Your national currency, my national currency sucks so I have some savings in it because is the legal tender but if possible I avoid it, do you save dollars? The dollar had several crisis in the past, do you save bitcoins? Bitcoins are great but what if a new crypto appears and bitcoin loses its value, as you can see deciding what kind of currency to save is a problem all on its own.