Well, i heard this is one of the major problems with people who hold so much coins from years back, anyone can actually do this to any currenecy and there is literally nothing stopping it, but it doesnt mean you cant also make a profit out of it, buy low sell high, right? but scary note is, can mt gox and will mt gox sell all the remaining in 1 swoop. that can probably crash bitcoin... but these are just my thoughts. i could be wrong.
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A majority of the older holders have been more prudent with their sells. Not many are on exchanges dumping in this manner. Many use OTC to handle the transactions.