Before revision: Recent emergence of cryptocurrencies such as Bitcoin and Ethereum has posed possible alternatives to global payments as well as financial assets around the globe, so measuring their financial risk is crucial for investors and financial regulators . Analysis of price fluctuations in financial markets is often based on the assumption of a Gaussian distribution , which fails to capture the extreme values and leads to the underestimating of the risks .
After revision: Recent emergence of cryptocurrencies such as Bitcoin and Ethereum has posed possible alternatives to global payments as well as financial assets around the globe, making investors and financial regulators . Analysis of price fluctuations in financial markets is often based on the assumption of a Gaussian distribution , which fails to capture the extreme values and leads to the underestimating of the risks .