What means "hurt really bad"? You mean a price drop? Probably yes. But don't we already have that? Price drops and price rises? That's just called volatility. That's not that bad because sooner or later Bitcoin recovers! Never forget that has a finite supply coin, the long run tendency is a price rise! So, probably yes, there will be price drops. There will be many orders liquidated, but the positive aspect is that will clear some weak hand in the process!