As long as Bitcoin can be shown to be a hedge against gold, there will always be people who buy it.
People buy gold to hedge against equities and bonds. Gold owners have obviously started buying Bitcoin too to hedge against gold, for what it's worth. Just have a look at the graphs showing the outflow from gold into bitcoin during the media frenzy in December.
The sort of people who buy gold for investment purposes are the ones who will also buy bitcoin simply to balance their portfolio just a little bit more. They don't get emotional about it and will simply split their portfolio like this, for example:
60% equities
30% bonds
6% gold
3% cryptocurrency
I don't think the value of bitcoin would go along with the value of gold. They are different and will always be. We all know that gold was known before bitcoin, wherein a large interval of years. But then, it is seen how these two are being compared all the time. That is why I do not think that if one would fall or even rise then the other would do so.