I actually think this will lead Bitcoin to a needed bump.
Its insane deflation was ruining all btc based business, as it was more profitable to simply hold to the bitcoins and wait then to trade with them, now with the speculators scared as hell and away of it, it could be an opportunity to actually create a Bitcoin economy.
Actually, I spent several coins when they were between $25 and $30. Im very happy about it. Hopefully all this will teach everyone that hoarding bitcoins forever its not such a good idea.