If you're worried that crypto's best days are behind it, Tom Lee has news for you: any weakness ahead is just part of the process, not the finale.

Speaking with CNBC on December 30, the BitMine Immersion Technologies (BMNR) CEO laid out his case for why Bitcoin (BTC) still has a long runway ahead, even if things get bumpy first.

The Adoption Gap Is Still Massive

Lee pointed to a striking stat: only about 4 million Bitcoin wallets hold more than $10,000. Compare that to roughly 900 million global IRA and brokerage accounts at the same threshold. The implication? We're nowhere near mainstream adoption yet.

Sure, there's been chatter about quantum computing threats and some recent deleveraging that's rattled sentiment. But Lee argues the fundamentals heading into 2026 are actually solid. The real question on investors' minds isn't whether crypto works—it's whether all the future gains are already baked into current prices.

AI and Crypto: Same Playbook

Lee grouped crypto alongside artificial intelligence as dominant, structurally strong trades. He described AI as being in a "bleeding-edge" phase where the technology races ahead of practical applications. That mismatch often gets mistaken for disappointment before mass adoption kicks in. Sound familiar?

Volatility First, Rally Later

Here's where it gets interesting. Lee expects the first half of 2026 to bring volatility, with a potential 10-15% pullback as investors lock in profits and recalibrate. Policy uncertainty will play a role—both Federal Reserve intervention and White House support could re-emerge as stabilizing forces once the dust settles.

After that turbulence clears, Lee anticipates a strong recovery. Think of 2026 as a year with two distinct chapters: a corrective phase followed by a renewed bull run.

His broader thesis? Skepticism itself might be the fuel for the next leg up. As crypto, AI, and even traditional banks edge closer to genuine transformation, the doubters could end up being the ones left behind.

Meanwhile, crypto trader DonAlt offered a more measured view, sketching out a wide range of possibilities for Bitcoin—from a bullish spike toward $150,000 if momentum reverses fully, to downside risk near $60,000 in a bearish scenario. He said his own stance has shifted from bearish to neutral heading into the new year.