For me, this is kind of a huge investment, but should I actually do it?
What are the risks of doing this?
Yes, becouse if you want to grow your money, bitcoin is really potential for this. But there are still some risk in bitcoin, it is a new concept of payment system and the price is move so wild, you can get so many profit or suffer a financial lost. I also suggest you for only hold your bitcoin until the price rise or if you have a skill to do trade, you can do it.
You don't have to sell when the price decreased anyway. People that are going to invest their money by holding bitcoins should be aware that it would take years before they can get serious amount of profit. Otherwise, they'll be panic selling when there's price decrease. I'm sure that there are some bitcoin holders out there that sells their coins when they see a huge price decrease.
The people that are in it for the the long haul doesn't even care about this price decrease because they know that bitcoin will eventually pick up and continue to rise. Whatever happens within the years that they hold bitcoins is nothing to them since the only thing that is important is the price of bitcoin at the time they bought it and the price of bitcoin at the time that they are going to sell it.