If you have $5,000 to invest in cryptocurrencies, where would you invest (Bitcoin, Litecoin, Ethereum, etc.)? What are the risks?

My views differ here with others.
I would invest in 90% in Bitcoin and Ether. Cause they have both established themselves and they are here to stay. Others may compete with ether but they will take a long time before they can become parallel to it.

The remaining 10% you can put in different Alt Coins or Projects which you may like. Do your own research about them. Ripple, EOS, Tron, Sia, 0X, Golem are some nice projects.

Secondly in a speculative trade you don't invest what you can't afford to loose. Your investment in speculation is not an asset. In fact you write off that amount from your wealth when you do it.