The price of bitcoin has continued its remarkable recovery.(IBTimes UK)

Bitcoin has continued its remarkable price recovery that began at the start of November with a further gain of 7% over the last 24 hours.

Most other major cryptocurrencies have seen similar improvements in price, including dogecoin and darkcoin and namecoin, while litecoin and peercoin have seen more modest gains of around 1% to 2%.

One of the biggest movers across all markets is pesetacoin. One of two unofficial cryptocurrencies of Spain, pesetacoin rose in price by 37% since yesterday to take its market cap above $100,000.

Previous bills had set fines for creating, issuing or promoting digital currencies like bitcoin at $1,314. This will now be reduced to $1,050 in a revision that head of Russia's Federal Financial Monitoring Service Evgeny Volovik said reflects the underlying potential of bitcoin technology.

"I consider the bitcoin ecosystem as a prototype of a system that is undergoing rigorous testing from all sides," Volovik told CoinTelegraph.

"With experience and further innovation, I think it is very possible that the blockchain will have a very bright and promising future."

The search for Satoshi Nakamoto, the illusive creator of bitcoin, may well be over(Adrian Chen)

Research that involved deep analysis of the 80,000 words posted online by Nakamoto has been detailed by financial writer and investigative journalist Dominic Frisby in his book 'Bitcoin- The Future of Money?'

"There is no proof, just a great deal of circumstantial evidence," Frisby told IBTimes UK.

More here:

Cryptocurrency Round-Up: Satoshi Unmasked, Russia Softens Bitcoin Stance and 'Bitcoin Worth $1m'