I don't know.. 80% seems a lot but some calculations show that only a couple billion USD total went into crypto to get it to the market cap it is at now.
Other crypto's don't offer much refuge.. People are used with crypto's being tied to Bitcoin, so when Bitcoin drops people pull out all their crypto at the same time causing a domino effect. There's only a handful coins that are less affected by bitcoin dips and even they are only 'less' affected.. still affected
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Well, I was just discussing on another thread the option of bitUSD, but with these low volumes and real trades only happening every 10 minutes or so on the bitShares DEX, itΒ΄s no real option for fast decisions :(