_Insert joke about going blind here_
The jury is out about if it affects hormone levels. Lots of old wives tales like the above mixed in. If you are masturbating that many times a day, it might indicate obsessive compulsiveness or sex/porn addiction, (not a judgement, it's a clinical diagnosis, your brain gets "used" to doing it). See your therapist and endo about it and see if you can try a T-blocker that has known anti-libido effects.