I would guess that the majority of people who wanted to hop on to ride the bubble never managed to get their fiat online at gox in time. The bubble burst while their accounts were being reviewed and then while their cash was in transit.

Now what we need is for institutional investors to gtfo and instead have ordinary people pick up handfulls of coins instead. One of the greatest risks for the whole bitcoin system is to have some small number of people sitting on large positions. Bitcoin needs to get rid of the big players, they will treat the system as a toy.