Feel sorry for anyone who has done a loan not tied to fiat rates. If this trend keeps up I can't see many people honoring their existing commitments.
The price goes both ways - right now the price is crashing and it's actually benefitial for these people who have took out a bitcoin loan at the ATH because now they can buy the exact same amount of bitcoin for less!
If you didn't know already this is how shorting works, basically someone borrowing a certain currency and selling it straightaway as soon as he gets it because he's speculating on a crash on the market.