Going bankrupt on cryptocurrency won't happen that easy, if user has got some basic knowledge about the market fluctuations. People who were greed into the cryptocurrency network expecting big return in short term used to loss if they were unlucky. Particularly people investing on a single asset without diversifying go bankrupt.
losses in crypto can occur if we do not want to make some market observations. we cannot take lessons from the values that happened in the past so that we can determine attitudes in the future. the market is always changing so we also have to take steps quickly if the market is bad.
Most importantly they know the basic knowledge of crypto investments, they know the big risks from the crypto market such as fluctuations and scams. if they know the basics, of course they will diversify so they don't bankrupt when the risk occurs.
Without basic knowledge it is impossible to invest into cryptocurrency. Even an elite person go back without anything in hands, because the market is highly volatile and we cannot conclude when scenarios of the market gonna change. Scams are everywhere and in recent days with the name of more scams were taking place around the globe. Apart from this other problems in the market were the expectation of immediate growth and getting prey to HYIPs.