“…This surprising behavior of the stock markets led the authors to formulate the so-called “inverse cubic law”—a conjecture that the power-law tails of the return distributions with the scaling exponent are a universal property of all stock markets at short and medium time scales [ 18 ]. Indeed, similar statistical characteristics were found by other researchers in data collected from other stock markets [ 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 ], Forex [ 36 ], commodity markets [ 36 , 37 ], and the cryptocurrency market [ 36 , 38 , 39 , 40 ].…”