I don't think a panic driven by infrastructure issues should be called a bubble though. Bubbles pop because the groundswell behind some fad can't be sustained due to internal factors in the supply and demand curves.

This was a panic plain and simple. The second in several weeks that we have MtGox to thank for yet they still haven't fixed their massive trade lag. At the very least if they can't fix the lag they should code in stop-loss orders to ensure users won't have losses due to their server insufficiencies.