Yes bitcoin had affected many lives either positively or negatively. I had encountered many live examples. One of my friend is doing bitcoin trading to manage his family means he earns b about $400 monthly. And I had another friend who always suffers losses and he is frustrated with his life because after getting such losses one can't keep calm you know. So bitcoin have both good and bad. It depends what your luck choose.
Most of those who lost in bitcoin are those who gamble with it. Maybe your friend, if he is trading need to refresh his knowledge on trading. Reequip with basic trading lessons and if he is gambling, stop it. To regain what is lost, maybe he is better to do task with bitcoin