Scared money is no money.
It does depends on what you are investing in offcourse. If you have no good feeling or security then sit back and enjoy the bitcoin ride. My plan was always to keep my btc investment to 50% of my wealth and with this strategy I can take a hit if BTC fails.
That is why passive income is one of the best, you earn money without doing too much or doing nothing at all.
investing is just another form of saving that increase your money with a risk involve.
There is no doubt that investments are risky nowadays especially the online investments but if you want to grow your money in long run then you need to take that extra risk of investing, and saving money will take care of your needs at the time of emergencies so I think both are important for an individual.