Well, it's not the fault of Bitcoin itself since it is just a tool that people use. In the end, it all narrows down to the user and how well they manage their money.
Of course it's not bitcoin to blame here but himself. Did he do his research? I doubt that. He didn't understand that the market is based on speculation and there are manipulators from behind. Its sad to here such story, but as always, bitcoin is not a get rich scheme. There are times that bitcoin price will go down, its beyond our control.
Maybe he didn't understand what are the risk are, he just put everything on it. And just hope that it will multiple in short time. I think we have gone through his pains, but we never blame bitcoin, we try to reinvent how are we going to play the market to our advantage. Well, that's the case for me.