Except that Bitcoin is at a 50% inflation right now.
Gold is also a deflationary currency and yet its price is skyrocketing.
But if people were mining gold faster than people were buying it, it too would be losing value.
That's a misconception of the market, actually most of the liberalism havoc is due to such "linear view" of "supply and demand".
Between supplies and demands there's speculation. Actually the gold will not be "skyrocketing" much longer as speculators by betting so much on gold's future are in fact removing value of it. You see... things have value based on their use, they're worthy or needed and cause demand, more demand = higher prices. By speculation, gold hasn't any demand on its main purpose, jewelery, as being so expensive it becomes a bad investment and ultimately a danger to its bearer.
The same went on with Bitcoin, by being so deflationary at such fast pace it literally broke all bitcoin-based businesses, what created less demand and speculators were just inflating a bubble of something themselves made worthless... just what they're doing to gold now and something else when the current gold bubble blasts.