This is the point that makes all the difference between the two. Bitcoin has value today due to it's use, intangible nature and the fact that, we can use it in transacting around the globe with little or no complications. Again, it's limited supply has made people attach a worth to it as a save of value being a rare commodity. This is the same function for which gold assumes and now, it's got a better competition in bitcoin and bitcoin is doing great so yeah, the gold market would certainly be affected but, slightly.