The most severe effect of bipolar disorder is suicide. Unfortunately, 25% - 50% of people with bipolar disorder attempt suicide and 11% commit suicide.1. The best way to lessen the effects of bipolar disorder is an accurate, professional bipolar diagnosis and early, appropriate bipolar treatment. Psychological Effects of Bipolar Disorder. Bipolar disorder is a mental illness known as a mood disorder (read: what is bipolar disorder). In mood disorders, the patient suffers from severe emotional states. In bipolar disorder, the patient suffers from highs known as mania or hypomania and lows or depressions.