Bitcoin is satisfying to be an instant liquid currency and also satisfying to be an asset like gold.
What is the meaning of "satisfying" here? Liquidity in bitcoin is still very difficult to attain. Many countries dont allow it to be transacted and some have been banning the use of it. Fiat is more liquid here.
Bitcoin should also not be compared to any precious metal. They are many difference between the two. Price is not a point is comparison of assets, rather the asset class is.
But currently, the bitcoin market capitalization is too small compared to other currencies or assets, so bitcoin is easier to manipulate,
Correct statement but wrong conclusion. Manipulation exists in every market, just that we dont see it clearly. It is a half-truth to sway on that motion but without volatility there would not be any interest in trading an asset.
Institutional capital helps manipulate bitcoin - it is possible but not confirmed and neither provable. This should not matter to retail investors though.
What is lacking is regulation but that is a topic for another discussion.
especially with bitcoin derivatives such as margin, future, ETF. is riskier in investment.
But those are niche products to trade on. Not every exchange allows those. Moreover ETFs are not yet prominent in BTC yet.