It's not a matter of how high or low, you're dealing with nearfiled/outerfield issues.
For example, if a guitar is 3ft long, everything within 3ft of the guitar (all around, like an imaginary bubble) will be the guitar's nearfield, and everything outside that 3ft barrier will be the outerfield.
As long as you place your mic in the nearfield of the guitar, depending on where you place your mic, it will have drastic changes in the sound you will pick up.
If you place your mic in the outerfield, you will get a more general sound and the changes in the mic's positioning will be less noticeable.
It also depends on the mic you are using, some mics are more directional than others, depending on the mic pattern. But as a general rule, if the group of people fits within a 20ft diameter circle, place your mic AT LEAST 20ft away from them.