I think it's kinda a boarderline decision. If you play good poker, you could make top 80 and get paid. So if making 80 is good for you, then fold. If you wanna go further and possibly not make 80 then going all in was probably correct. But It also has to do with how the player that raised has been playing before. If he was really conservative and you had not seen him raise in this spot before, I would let him take the pot. If he had been raising often, and trying to steal blinds, I may have gone all in. Also, how often had that person been calling all in bets?