Economist Alex de Vries, who published the article "Bitcoin's growing energy problem" in the scientific journal Joule, told the financial media, that mining Bitcoin will consume 0.5 percent of world energy by 2018.

The State Duma of the Russian Federation will support the first reading of the initiative, which will add the basic norms of the digital economy to the civil code of the Russian Federation. This is the latest step on the way to introducing cryptocurrencies in the country, informs local press service.

Gold price remains under pressure near the weekly lows. Medium-term support is very close and bulls would not like to break below as this would imply more downside towards $1,255 should be expected. I prefer to be a contrarian and be bullish at current levels but specially if we close the week and break above $1,300.

The Reserve Bank of India (RBI) has banned banks and other financial institutions from facilitating cryptocurrency transactions in the country. In response to this coalition consisting of four platforms for the exchange of cryptocurrencies and other startups, the regulator filed a petition in court, questioning the RBI directive. The decision of the Supreme Court will be considered on May 17.