In general, I recommend not clearing your cache unless you have a specific reason to. The files in the cache allow the websites you visit most often to load faster, which is a good thing. Your browser will periodically delete old files, so it's not like the cache is going to keep growing forever.

What happens if I clear my cache?

When the app cache is cleared, all of the mentioned data is cleared. Then, the application stores more vital information like user settings, databases, and login information as data. More drastically, when you clear the data, both cache and data are removed.

Is clearing cache bad?

If you clear the cache on your Android phone periodically, you could help eliminate performance issues on the device. Your Android phone's cache comprises stores of small bits of information that your apps and web browser use to speed up performance.