First of all as an investor you ought to be focused and concentrate on your thing instead of looking at what others are doing but if you must look at what others are doing or saying even if they are not..., don't be drive by those things rather learn to be contented with what you have ( your capacity), if there is something great or interesting they are doing and you feel it can help you if you apply it your investment and you have what is required to carry out this then you can go ahead there is nothing wrong in doing this but don't allow other people's success or things to control you, be confident in yourself and know you must not be like others.
To be more specific, "all hands are not equal". Meaning we all at different financial level, so we shouldn't look at other investors and do whatever they do.
Most of them can choose to risk an amount knowing full well they have suitable businesses and back up funds elsewhere to fill in the gap. It will be like they never lost anything. While there are some investors that will be affected drastically. At least I have come to realize that working at your pace and accumulating consistently is all that matters. You can keep investing while growing your income, it doesn't stops that.
except by looking at what other investors are doing, you are affected negatively, there is a level of advantage that comes with looking at other investors investment approach. it stands keep you on your toes and get you fully involved and even pushes you above trying to aim for anything too small as what you will likely term to be your investment goal.
there is a ballance between an investor that can afford to risk much just because he has much and an investor that can choose to risk mucjh even though he doesnt have as much as the wealthy investor. the ballance is in
waiting. if as a retail investor that does not have too much you still buy and wait, there is no point where we will talk about losses because you only loose when you sell below the point you bought you bitcoin and that can only happen when you are short term investor that is not patient enough to invest for the long term. even though it is true that one should invest based on his financial capacity, pushing yourself above the minor limit also stands help you reach your accumilation point fast enough.