This is something to keep in mind. This threshold of needing to reach .05 is arbitrary and many are arguing to make it lower.
Technical definition time
This is all a basic understanding of the pvalue, and it’s worth quickly looking at the more accurate and a bit more technical definition of what a pvalue is. The hosts of Signal say it is “how likely it is that you would see results similar or more extreme as the ones you would get if your null hypothesis is true.”
This null hypothesis sounds much more confusing than it really is. So basically, let's assume you want to test a drug, and your hypothesis is that it will improve back pain. Your null hypothesis would then be that the drug will have NO EFFECT different from placebo on the pain. Now let's say you complete the study and it looks like it has a pretty positive effect and you calculate that the pvalue is .05.
The basic meaning of this is that there is a 5% chance that your results are due to a fluke. The more techical meaning of this is that assuming that this drug had no effect whatsoever, there is a 5% probability that you will have gotten this positive effect due to chance alone.
It’s good to know the technical meaning, but the basic meaning will be perfectly fine if you are not a researcher. Normal people don’t need to ever utter the phrase “null hypothesis”.
Why should I care?
"Facts are stubborn, but statistics are more pliable."  Mark Twain
Unfortunately, no matter what you do or how you spend your time, you are likely to be barraged by "this study says..." and statistical "proof" of something. Pvalue's have become this overpowered gatekeeper to what good science is and are used as a substitute for how you should feel about the data.
There is much more to a study than its pvalue, but it is the thing most likely to be paraded around as proof that something has a significant effect. According to the team at Signal, a "pvalue absolutely cannot tell you the strength of your evidence, it can't tell you the size of an effect, it can't tell you whether the finding is important or not."
Just look at the two drugs below. Both have the very respectable pvalue of .001 (so almost guaranteed that there is a real effect), but which one would you rather take?

