In my opinion, risk management in trading is very necessary. Maybe we shouldn't be greedy to hope for bigger profits when we get a commensurate profit, but when we consistently survive in the long term it is much more profitable.
Yeah, "risk management" is very important in any investment.
however, the fact that we are investing in crypto, that means are ready to take higher risk without a higher goal of profit. If those who invested early did not take a high risk, then most probably they are not enjoying their huge profit now. My point is, invest what you can afford to lose only and take the risk if you see there's a huge potential on it too.