I completely agree with your points. However, it really depends on the type of crisis that hits, whether hyperinflation, recession, etc.

I think that gold will still be seen as a hedge, if a financial crisis does come. People naturally revert to gold whenever there is financial instability, which could explains why gold prices rose so much post-GFC.

But gold is just too indivisible, too inconvenient, and has a high entry bar for regular investors who want to store their wealth in a safe haven. That's why I also believe that bitcoin will be seen as a feasible alternative due to its convenience, as it is also completely independent from the traditional fiat system in times of crisis.

There might not be huge spikes in price, but its value should hold relatively well in the long run due to its limited supply and detachment from the fiat ecosystem.