Can you provide a reference for this please?

You would also need to back this up by proving most people using BTC are speculators.

I don't think you understand my point as well as other contributors to this thread.

The reason the BTC/USD pair is the most traded is because all of the trade flocks to the pair with the most liquidity. There was a lot more BTC/GBP trading on MtGox before the spike. Are you suggesting there are a lot less British BTC holders now than a month ago?