in my opinion, not all crypto players experience bankruptcy, a lot of these traders benefit, maybe what you see is only a few and maybe you also include people who have gone bankrupt because when you do an analysis like this you have to have clear data so that the people in the forum this can find out who is bankrupt because of cryptocurrency.
You are right many investors also made thousands of dollars because they were the early investors. They bought bitcoin when the price was just few dollars but it is also a fact that they waited for long time. Gradually the price increased and their investment also increased. The later investors become bankrupt because they lost their money due to huge dip in the price.