It all depends on you really if you don't mind losing your old character for good then go ahead, then again there's no guarantee that Rockstar are going to be able to restore it, So we could all end up waiting for nothing.
I'm literally sitting here for an hour trying to figure out if I should just suck it up and make a new character. 3rd one. I'm dying so bad to play.
Rockstar said in bold DONT make a new character
If you have previously created a character but see an empty character selection screen when entering GTA Online, please back out to GTAV Story Mode and try re-entering GTA Online through the pause menu (repeat or wait until Rockstar cloud servers are back up). Do not create a new character in the empty slot where your character should be.
If you receive the message 'The Rockstar Cloud Servers Are Unavailable', please return to GTAV Story Mode and follow the steps above. Please do not press “Retry” on the message and do not proceed online with saving disabled, as this may lead to overwriting your existing character.
We apologize for this inconvenience and are working on a permanent fix for these issues
Lost my character for the 3rd or 4th time, this time I'm not going to be making a new one not because of money or rank but because I was really happy with how my character looked I cant be bothered to spend ages on the character creator again.
I'm praying Rockstar are going to be able to restore what's been lost