Demand of gold will shrink a lot, as people rather want to hold bitcoin. When the masses in India trade their gold to crypto I bet supply will be 2x demand.
I messaged haejin's gold chart to the local goldsmith, and he said it is very likely, but of course he hoped the dip would not go so far.

Silver is so low value now they melt jewellery, spoons and bowls into bars all over.