Assuming I can gather 500$ a week from here and there,how much exactly should I invest.
I'm not that greedy and there is no time constraint.
Day trading is a very good job it will give us good income but you need to have trading skills,if you just start the trading without any knowledge then you will lose all the money and your target for a week is very huge and it is hard to achieve even for a professional day traders.So you just start bitcoin trading by doing small trades like upto $100 then if you can find profit from it just carry on with it.
If you are able to invest big amount the you can go for long term bitcoin investment it will give good profit also but it take some years.
I am also pretty much not in favor of trading with bitcoin since trading is quite risky and there are sufficient chances of losing your worthy bitcoin in trading and at present prices of bitcoin, one really cannot afford losing bitcoin.
The prices are increasing gradually and it is highly predicted that bitcoin will go beyond 20, 000 dollars by next year. Bitcoin should be used as an asset than as a currency for trading.