I would say Nelson is right, there's got to be more going on than just TRT raising your hematocrit. Blood donations usually knock my hematocrit down so far I don't have to donate again for about three-four months.
For example, last time I gave blood, on December 20, 2016, my hematocrit was 50 right before donating.
About three weeks later on January 11, my urologist ran his routine labs on me, and hematocrit was 44.1.