I do not think that this is an accurate statement.

Losing money as an investment is not consider losing unless you sell the asset you are holding, right now my portfolio is in big -% USD but it still has the same amount of Crypto it had before since I never sold any of my holdings so I still not consider myself in loss unless I sell, for example if I have 1 BTC  before the huge downtrend I still have 1 BTC now nothing changed for me.