Your problem seems to be how to better manage risk and the classical answer to that is through diversification. So what you have to do is to establish your level or levels of risk tolerance and then proceed to diversify your portfolio including if possible geographically.
Bitcoin
As you have implied nobody knows where its value is anchored making it at least in theory to be able to fall to zero. This makes me remember the episode called the tulip mania during which, if I am not mistaken, at its peak one could buy an house with a few bulbs. Some people say that it is a currency, but that is very doubtful as its value is not stable. Imagine buying an house off-the-plan with the price specified in bitcoins. The risk of either the buyer or the builder going bankrupt would be enormous.
Gold
Gold is said to be equivalent to an inflation-linked sovereign bond with a zero coupon. So for it to make sense to invest in gold its price must appreciate at a rate superior to the interest payable by that type of bonds. Goldbugs do say that the price of gold can only go substantially up, but I remember they expressing the view in 1981, at which time the gold price was around $800.00 (an historical record high), that by 1983 gold was going to be at US$ 2,000.00.
Gold Stocks
Using Leverage by buying the right to have gold while it is still under the ground is an wonderful thing when the price is going up but it can also be a terrible thing when the price goes down. Besides when in a rot people do receive margin calls it is not unusual for gold stocks to be liquidated together with everything else.
Stocks in General.
If I am not mistaken, one can say that in the long run stocks have outperformed all other types of investment. The problem is that the stock market is prone to rapid and profound changes in confidence. For this reason investors in stocks are advised to have a nice cash buffer to support them during the recovery periods that inevitably comes after abrupt falls.
Some people invest in index funds while the more audacious ones do tend to invest in a mix of speculative or growth stocks and value stocks.
By historical standards stocks seem to be overpriced, but one has to bear in mind that we may have entered an economic period of secular stagnation (a period of little or no growth).
Property.
Property is said to be an economic sector highly sensitive to interest rate movements, interest rates which at the moment are at unprecedented low levels with the ability for further cuts almost completely exhausted The big question here is, therefore, for how long can one expect interest rates to stay where they are? Another question is: how is the post covid19 economic going to look like, including the trends in residential and commercial property bearing in mind current trends in people working from home, making on line purchases, baby boomers retirement, preference for the periphery, immigration, etc? Besides all this one has also to ask this: is the housing market in a bubble? In New Zealand they already reached the conclusion that they must start to restrict home lending.
