the virology lab), financial crises were termed as a panic and the Panic of 1907 was the last financial crisis termed this way. Metaphorically speaking, prior to the man-created dollar virus leaked from the 1944 Bretton Woods Conference (i.e. from 3.65 per USD (2017) to 17.94 per USD (August14, 2022 with the external debt approaching to $500 billion and the inflation has skyrocketed to dizzying heights (circa 100%), another high-magnitude currency crisis may be knocking at Turkey’s door. ![]() President Erdoğan’s grand strategy has backfired Turkey is now in deeper financial crisis/meltdown than ever before for instance, the value of lira has depreciated the fastest among emerging currencies, i.e. The AKP’s resounding victories in the 2011 elections, the 2017 constitutional referandum for presidential system change, and the 2018 presidential election gave Erdoğan a rare opportunity to take control of key institutions such as the parliament, the presidency, the judiciary, the military, the police, and the media. Excluding the 2016 failed coup attempt by a fraction of the military, the 2007 e-memorandum (e-coup) was the military’s last failed intervention that did not result in the removal of Erdoğan who knew that his goal of pushing forward an Islamist agenda would only be possible if the Turkish military along with the judiciary were bent to his will. the Turkish Armed Forces seized power from the ruling government in both 19 coup d'états in the 1971 coup by memorandum and the 1997 post-modern coup, prime ministers from center-right Justice Party’s Süleyman Demirel and Islamist Welfare Party’s Necmettin Erbakan were forced to step down. Between the coup decades (1960-1997), Turkey has faced a total of nine coup attempts, i.e. In malignant times (non-secular ideologies, anarchy, or political terrorism), the Turkish military reserves the right to intervene via different forms of coups (coup d'état, coup by memorandum, and e-coup), which have always resulted in party closures and banned politicians. After Atatürk’s death on 10 November 1938, the Turkish Armed Forces has safeguarded his principles known as Kemalism and has protected the country from domestic and external enemies. Mustafa Kemal (Atatürk) abolished the Ottoman Empire in 1922 by overthrowing the last sultan Mehmet VI Vahdettin and established the Republic of Turkey as a secular state on 29 October 1923. Bitcoin and some altcoins may become obsolete, but blockchain will continue to forge ahead unabated as many life-changing inventions have done before. It is important to mention that Blockchain is not confined to Bitcoin and its survival as a revolutionary technology does not depend on cryptocurrencies. The halving #3 has been most unprecedented by any stretch of imagination, the value of each bitcoin has skyrocketed from $7,194 on 1 January 2020 to $64,863 on 14 April 2021 however in the subsequent month (May 2021), Bitcoin gave back half of the gain (price reduction of 20% or more could be considered as a major correction). ![]() Following the halving #2 on 9 July 2016 (block reward was reduced from 25 BTC to 12.5 BTC), the price of bitcoin charted a remarkable ascent, from $963 on 2 January 2017 to $20,089 on December 17 in the same year (a surge of 1,986%, followed by a nosedive to $3,557 in January 2018). The three previous halving events are a testimony to this fact after the halving #1 on 28 November 2012 (block reward was reduced from 50 BTC to 25 BTC), price of each bitcoin increased from $76 on 9 July 2013 to a peak of $1,153 on 5 December 2013, an increase of 1,417% (but fell to $177 in January 2015). Bitcoin’s high price valuations coincides with its halving dates aftermath of each halving event has led to a bubble formation within one year and a crash in the ensuing few months after a perceived peak has been achieved. At the time of writing this article, the Bitcoin bomb has exploded after peaking at $64,863 on 14 April 2021, the value of Bitcoin has plunged 45% to $31,276 on consequently, nearly $600 billion of value evaporated from Bitcoin’s market cap, i.e.
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