Is the narrative "90% of crypto investors lose money" true?

I heard about crypto investing being a big thing in 2017, so it's been about 8 years until I made my first step. All this time, this narrative has been what was keeping me away from crypto. I heard a lot of stories how people lost tens of thousands of dollars investing in crypto, so it's best not to start at all.

Now that I'm finally here, I want to know if this is true. What is making people say such statement? Also, if you believe this is true, why are you investing in it?