I honestly never though I'd see the day of sub-$20 oil

For as long as I can remember, oil has traded around $80 per barrel, at least that has been the goal of OPEC.

For those older than I, they probably remember a time of much cheaper oil, but I do not.

As I type, oil is trading below $20 for the first time in roughly 2 decades.

Even then, it was only there very briefly.

Check it out:

(Source: https://twitter.com/100trillionUSD/status/1244627394822094850/photo/1)

During the height of the Great Recession back in 2008, when oil plummeted from a high of $150 per barrel, it never sniffed the 'teens' in terms of price.

Now, here we are, in the midst of a global pandemic and oil is seeing extremely low levels...

I honestly would not be surprised if we go lower still considering this pandemic is going to impact the economy for at least the next couple months.

That being said, it will probably be a good time to pick up some oil ETFs in the near future...

Bitcoin wasn't around during the last asset price collapse, we will see how it holds up this time around.

Stay informed my friends.

-Doc