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2.
Refers to the moment in which you realize that a specific alcoholic beverage, most likely beer, is insanely pleasing thus you must continue to drink. However Beertastic can be used simply to describe a moment in which you must drink, have drank, or when you simply want to display pleasure with a certain action non-alcoholic related!
Holy shit, that chick is beertastic.

OMG that was the most beertastic moment I have ever had at a bar!
by Guidalz October 20, 2007
 
1.
An exclamation of joy or description of great quality.

On International Beer Day the word "Beertastic" may be substituted for virtually any positive adjective.
"This meal is positively Beertastic!"

(or)

Guy 1: "Dude, it's raining beer outside!"
Guy 2: "Beertastic!"
by skyscotty July 09, 2009