There could not have been so many distraught investors selling their bitcoin in fear, because the greatest pressure on the cryptocurrency market could have been exerted by these two events: bitcoin sale by Germany and Mt.Gox users. The increased supply of bitcoin in the cryptocurrency market inevitably leads to a fall in value.
They are newbie investors and I don't argue to say they are not investors but let's say amateur investors.
A more proper term to call these people is "speculators", not actual "investors" but if you tell them that they are not investors, but only speculators, they will disagree with you.
Disagree or agree with you, calling them as speculators, it's not matter because they in reality don't react like investors, but panic sell like speculators who see their greedy bets fail and panic exit the market.
Anyone still caught up in panic selling their btc whenever the market shows a sign of dip is either not paying attention or haven't leant anything from all the events surrounding btc price movement.
I think the hardest part of the Mt.Gox victims is already over, they all have or will soon have their btc in their personal possession so what is the need to sell off in a hurry when you have the power to decide when to sell now.
Despite years of being in this space, there will always be those type of investors that are not sure of their investment, they panic sell at any given negative news.