Most of the new investors bought their coins, after the "China boom" generated a lot of interest on Bitcoins. Those who sold their coins when the exchange rate was going at $1,200 was mostly older Bitcoiners, who numbered only in a few thousands. So we can say that a few thousand people gained when BTC went from $10 to $1,200, but tens of thousands lost, when BTC went from $1,200 to $230.