No, this is definitely not going to happen. Because gold is a completely dysfunctional metal. Bitcoin is an investment tool that has more functions than even money.
What do you mean "dysfunctional metal"? One of the reasons why gold is keeping its value is exactly because IT IS functional metal, it has practical use. With all these new options of investing, one could think gold will lose value because it became less attractive compared to stocks and cryptocurrencies. However gold's price is relatively stable and safe investment because it has practical use. In the US, the amount of gold used in electronics is almost the same as in jewelry. And industry of electronics will only become bigger and bigger so demand for gold will increase over time.
For most, if not all uses in electronics, gold can usually be substituted for other metals. Also, globally, only about 10% of gold is used for electronics.
It's also not the best investment when compared with stocks' total return index (appreciation + dividends)
https://www.longtermtrends.net/stocks-vs-gold-comparison/
(scroll down to the 2nd graph)
It's clearly not the best choice as an investment, but it's OK if used as a store of value when everything else goes to shit.
'Everything going to shit' is also something central banks should be preparing for, no one can tell if the anticipated slow down of growth in the US isn't going to turn into one black swan of a recession. A potential Eurozone crisis is also something to be wary of.
https://www.bloomberg.com/news/articles/2019-05-02/central-bank-first-quarter-gold-buying-at-highest-since-2013