If I remember correctly, MtGox was about 80% of the exchange market when the 2014 crash happened.
%87 drop to be precise:
So imagine a %87 drop within a totally clusterfucked fundamental analysis situation. I mean, the worst fundamentals you could come up with:
-Most coins concentrated into the hands of an amateur running an exchange
-Press left and right shitting on bitcoin
-People in power saying it's a scam daily and will die
-Fork wars already brewing in the horizon with gavin and co entering in conflict with the core roadmap
-Any hopes of scaling felt like vaporware (no LN etc)
-Halving years away so not even that bullish force happening anytime soon
It was really worst period on bitcoin by a long shot. Now everything feels way more solid. People panicking clearly don't understand how bad 2013 was, they lack proper perspective.