95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable.
It's actually quite predictable if you know what you are doing and know your target. Most times people end up trying to be so greedy, and they end up losing even what they have made
I don't know if that 95% is so accurate, that's so big and I don't think we have a lot of dumb day traders.
People who pursue day trading are people who think they are smart enough so I guess we have at least 50/50 or 40/60, personally I'm not a day trader now and I would not be interested with the current market condition.