I wasn't under the impression that these people were still holding Bitcoins!
Oh they are, they are. You can find a quote from at least one forum member here about not selling at these levels. Note he didn't say he stopped mining, he just said he stopped selling.
I was one of these guys, you can even find my postings at the time bitcoin was about $9-10 re: being in for double or nothing. But as I mined more and more coins over the month I realized odds are I could get them for cheaper later and just sold. I was right to the tune of about $5/btc.
I've also re-started mining. Figure my 5830s are worth dick/all for gaming, might as well wring even $25/month out of them after power costs. Happy I managed to sell 2 out of 4 before bitcoin collapsed. Seeing as hash rates on deepbit climbing it looks like I'm not a unique and special snowflake with my conclusions.